Company: KW
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001408100-25-000084
Chunk: 83

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 2
Chunk 83
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Item 2.    Properties      

The following table sets forth certain information regarding our stabilized consolidated properties at December 31, 2024:

Consolidated Properties by RegionMultifamily(4)UnitsEnding % LeasedAnnualizedBase Rent(1)Average Effective Rent(3)KW Ownership %# of AssetsWestern U.S.9,258 95 %$198.7 $198.7 97 %32 Total Multifamily9,258 95 %$198.7 $198.7 97 %32 Commercial(2)Square FeetEnding % OccupancyAnnualizedBase Rent(1)AnnualizedEffective Rent(3)KW Ownership %# of AssetsWestern U.S.0.8 87 %$34.6 $32.9 100 %5 Europe3.4 91 101.1 95.2 91 24 Total Commercial4.2 90 %$135.7 $128.1 93 %29 

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Note: Dollars and square footage in millions.

(1) Represents annualized cash base rent (excludes tenant reimbursements and other revenue). 

(2) Excludes properties that are under development or undergoing lease up, which includes 9 properties totaling 1.0 million square feet.

(3) Annualized effective rent represents annualized base rent net of rental concessions and abatements. 

(4) Excludes properties that are under development or undergoing lease up, which includes 2 European properties where the scope is still being explored.

Consolidated Properties by RegionResidential and LandUnits/LotsAcresKW Ownership %# of InvestmentsWestern U.S.3 — 100 %2 Total Residential and Land3 — 100 %2 

The following table sets forth a summary schedule of commercial lease expirations for leases in place as of December 31, 2024, plus available space, in our consolidated commercial portfolio assuming non-exercise of renewal options and early termination rights (dollars in millions):

Year of Lease ExpirationNumber of Leases ExpiringRentable Square Feet(1)Annualized Base Rent(1)Expiring Annualized Base Rent as a Percent of Total202592 0.9 $24.6 18 %202650 0.6 20.2 15 %202746 0.4 10.9 8 %