Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 23

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 23
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 taxes included in income from unconsolidated investments(1)(34.3)Income from unconsolidated investments excluded from Segment Adjusted EBITDA1.6 Net income(48.3)Net loss attributable to noncontrolling interests0.1 Preferred dividends(10.9)Net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders$(59.1)

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Financial Highlights

    GAAP net loss to common shareholders was $6.4 million and $59.1 million for the three months ended June 30, 2025 and 2024, respectively. The increase in GAAP net income to common shareholders is primarily due to higher gain on sale of real estate, net and improvements in fair value fluctuations in the current period. 

    Segment Adjusted EBITDA was $154.7 million and $81.9 million for the three months ended June 30, 2025 and 2024, respectively. 

    Operational Highlights

    Same store property highlights for the three months ended June 30, 2025 include:

•For our 16,911 same property market rate multifamily units for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024:

◦occupancy increased 0.3% to  94.9%  

◦net operating income increased by 3.1% 

◦total revenues increased by 2.0% 

•For our 10,367 same property affordable rate multifamily units for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024:

◦occupancy was down 1.2% to 93.7%  

◦net operating income increased by 4.9%

◦total revenues increased by 6.2%

•For 3.3 million square feet of same property office real estate for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024:

◦occupancy decreased to 91.6% from 93.4% 

◦net operating income increased by (5.7)%

◦total revenues increased by 2.7% 

•Investment Transactions

◦Consolidated Portfolio:

•(i) Recapitalized and deconsolidated a 1,008 unit wholly-owned multifamily