Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 159

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 159
---
Acquired an industrial development site in the United Kingdom for $48 million, which we expect to recapitalize with a partner in our Consolidated portfolio and, in the United States, we acquired six multifamily properties in the Mountain West and an industrial property in the Pacific Northwest for $682.8 million. KW has a 13.0% ownership interest in these acquisitions in the Co-Investment Portfolio. Additionally, we acquired three additional sites for our UK single family platform.

•Cash Generation: Recapitalization of (i) a wholly-owned multifamily property located in Northern California, which generated $39.5 million in cash and a gain of $32.2 million to the Company and resulted in KW's ownership interest decreasing from 100% to 10%; (ii) a multifamily portfolio consisting of nine (9) properties, totaling 2,809 units, reducing the Company's ownership from 51% to 10% and generating  $138 million of cash to the Company; and (iii) 687-unit Southern California multifamily community, reducing the Company's ownership from 51% to 10% through a new joint venture and resulting in $17 million of cash to the Company.  

•Sold five (5) non-core assets consisting of: a wholly-owned, 88-unit multifamily property in the Mountain West, office assets in Ireland, Italy and the United Kingdom and residential lots in Hawaii for a combined total of $248 million. These dispositions generated $111.6 million of cash to KW and a gain on sale of $26.2 million.

45

For the nine months ended September 30, 2025, we had net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders of $68.4 million as compared to $109.6 million for the same period in 2024. These results include $122.8 million and $180.6 million of non-cash expenses for the nine 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 $101.2 million and $112.2 million, respectively, and fair value decreases of $2.6 million and $52.0 million, respectively).  The increase in net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders for the nine months ended September 30, 2025 as compared to