Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 158

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 158
---
 51% to 10% and generating $138 million of cash to the Company. Additionally, the Company completed a recapitalization of a 687-unit Southern California multifamily community, reducing the Company's ownership from 51% to 10% through a new joint venture, generating $17 million of cash to the Company.

For the three months ended September 30, 2025, we had net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders of $21.2 million as compared to $77.4 million for the same period in 2024. These results include $36.0 million and $64.0 million of non-cash items for the three months ended September 30, 2025 and September 30, 2024, respectively, which primarily consist of depreciation and amortization and changes in fair value (depreciation and amortization of $32.6 million and $36.9 million and fair value decrease of $3.3 million and  $21.3 million, respectively).  For the three months ended September 30, 2025 we had Adjusted EBITDA of $125.2 million as compared to $66.4 million for the same period in 2024. The increase in net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders for the three months ended September 30, 2025 as compared to the same period in 2024, was primarily due to (i) The recapitalization of the multifamily community in Southern California that generated a gain of $17.4 million; (ii) improved operating pickups on assets in our co-investments portfolio; (iii) increase in carried interest accruals in the current period as compared to reversals of carried interest accruals in the prior period.  

Year to Date Highlights

During the nine months ended September 30, 2025, we achieved the following:

•Originated $2.6 billion ($64.1 million at our share) of new senior construction loans through our debt investment platform

•Generated total investment management fees of $84.8 million, an increase of 22.9% from the first nine months of 2024

•Continued to see strength in our stabilized multifamily portfolio which saw same-store occupancy grow by 0.1% to 94.7%, same-property revenue growth of 2.4%, and same-property NOI growth of 3.0% 

•