Company: KW
Filing Date: 2025-03-31
Form Type: 10-K/A
Source: 0001408100-25-000099
Chunk: 13

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-03-31
Form: 10-K/A
Chunk 13
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      |     |             |     | 252 |
| Silver Creek              |     | Pasco, WA        |     |             |     | 242 |
| Vintage at Silverdale     |     | Silverdale, WA   |     |             |     | 240 |
| Vintage at Mount Vernon   |     | Mount Vernon, WA |     |             |     | 154 |
| Vintage at Richland       |     | Richland, WA     |     |             |     | 150 |
| Vintage at Chehalis       |     | Chehalis, WA     |     |             |     | 150 |
| Vintage at Sequim         |     | Sequim, WA       |     |             |     | 118 |
| Vintage at Burien         |     | Burien, WA       |     |             |     | 101 |
| Elk Creek Apartments, LLC |     | Sequim, WA       |     |             |     | 138 |

The Company also has an investment that the real estate was previously consolidated and subsequently been sold but still has remaining non-real estate assets and liabilities that are consolidated. In addition the Company has a retail investment that is consolidated as a wholly owned entity.

The Company deconsolidated two previously consolidated entities during the year ended December 31, 2024 that real estate had been sold in prior periods but the entity still had remaining non-real estate assets and liabilities. This lead to a $9,757,051 loss on the deconsolidation of subsidiary during the year ended December 31, 2024. The Company no longer has any remaining consolidated balances associated with these subsidiaries.

In addition to the consolidated properties above, the Company has ownership interests in 40 other properties but does not control and; therefore, treats its investment on the equity method of accounting.

(2) Summary of Significant Accounting Policies

The accompanying financial statements have been prepared on an accrual basis of accounting in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The following is a summary of the significant accounting policies of the Company:

(a) Consolidation

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and balances have been eliminated.

(b) Cash and Cash Equivalents and Restricted Cash

The Company maintains its cash in federally insured banking institutions. The balances at these institutions, at times, exceed the federally insured limits and as a result there is a concentration of credit risk related to the amounts in