Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 175

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 175
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. During the year ended December 31, 2024, the Company received $27.4 million of proceeds from VHH, including $10.3 million from recurring monthly distributions, $6.8 million from paid developer fees at conversion from development properties to operating properties and $10.3 million from sales and refinancings.Capital CommitmentsAs of December 31, 2024, Kennedy Wilson had unfulfilled capital commitments totaling $284.7 million to ten of its unconsolidated joint ventures, including $61.1 million relating to four closed-end funds managed by Kennedy Wilson, under the respective operating agreements.  

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Table of ContentsKennedy-Wilson Holdings, Inc.Notes to Consolidated Financial Statements—(continued)December 31, 2024 2023 and 2022

Summarized Financial DataVHH The income from VHH was a significant component of the Company's operations for the year ended December 31,  2024 and 2022.  Information for year ended December 31,  2023 is show for comparative purposes.  Summarized financial information is provided below:  VHHDecember 31,(Dollars in millions)20242023Cash and cash equivalents$148.5 $44.0 Accounts receivable28.3 3.7 Real estate2,141.3 2,054.9 Other38.7 0.3 Total assets$2,356.8 $2,102.9 LiabilitiesAccounts payable and accrued expenses$120.1 $21.1 Mortgage debt1,523.9 1,417.4 Total liabilities1,644.0 1,438.5 EquityKennedy Wilson - investment in unconsolidated investment332.6285.9Partners380.2378.5Total equity712.8664.4Total liabilities and equity$2,356.8 $2,102.9 VHH(Dollars in millions)Year Ended December 31,202420232022Rental income$174.9 $154.6 $131.0 Unrealized fair value gains36.4 114.4 270.7 Rental expenses(61.2)(52.1)(41.0)Interest expense(62.8)(52.0)(45.6)Other expense(4.