Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 94

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 94
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 of real estate, net includes an impairment loss of $22.1 million relating to non-core office and retail buildings in the United Kingdom, Spain and Italy that were marketed for sale during such period.

◦Co-Investment Portfolio

▪Completed $797.6 million in gross real estate acquisitions in which the Company had a 13.3% ownership interest and dispositions of $613.3 million in which the Company had a 23.8% ownership interest.

▪Originated $3.5 billion in new construction loans, completed $1.1 billion in additional fundings on existing loans, and realized $1.0 billion in repayments, the Company’s share of which were $86.6 million, $43.4 million and $50.1 million respectively.

38

Foreign Exchange - Results of Operations  

A significant portion of our investments are in foreign currencies. We typically do not hedge future operations or cash flows so changes in foreign currency rates will have an impact on our results of operations. We have included the table below to illustrate the impact these fluctuations have had on our revenues, net income and Adjusted EBITDA by applying the relevant exchange rates for the prior period. Please refer to the section titled "Currency Risk - Foreign Currencies" in Item 7 for a discussion of risks relating to foreign currency and our hedging strategy and the "Other Comprehensive Income" section below for a discussion of the balance sheet impact of foreign currency movements on our results of operations. 

Year Ended December 31, 2024ConsolidatedCo-InvestmentTotalRevenues$0.3 — %$(0.2)— %$0.1 — %Net Income1.4 2 %1.0 1 %2.4 3 %Adjusted EBITDA1.7 — %0.4 — %2.1 — %

Year Ended December 31, 2023ConsolidatedCo-InvestmentTotalRevenues$5.9 1 %$0.1 — %$6.0 1 %Net Income(5.2)(2)%— — %(5.2)(2)%Adjusted EBITDA(1.3)(1)%0.6 1 %(0.7)— %

Consolidated Portfolio Segment

Rental income was $390.6 million for the year ended December 31, 2024 as compared to $415