Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 199

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 199
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 Ended June 30,(Dollars in millions)20252024Net cash (used in) provided by operating activities$(9.9)$31.1 Net cash provided by investing activities462.1 173.6 Net cash used in financing activities(364.4)(151.9)

Operating

Our cash flows from operating activities are primarily dependent upon operations from consolidated properties, the operating distributions and fees from our Co-Investment Platform, general and administrative costs, compensation and interest expense payments.  Net cash flows used in operating activities totaled $9.9 million and cashflows provided by operating activities were $31.1 million for the six months ended June 30, 2025 and 2024, respectively.  The six months ended June 30, 2025 cash flows used in operations were primarily due to the payment of discretionary compensation and interest payments. The increase in cash used in operations as compared to the prior period is due to the receipt of restricted cash amounts relating to escrow amounts in the Construction Loan Portfolio during the six months ended June 30, 2024 as we took servicing of the debt platform in house.

Investing

    Our cash flows from investing activities are generally comprised of cash used to fund property acquisitions, investments in co-investments, capital expenditures, purchases and originations of loans secured by real estate, as well as cash received from property sales and sales from our co-investments. Net cash provided by investing activities totaled $462.1 million for the six months ended June 30, 2025. We received $423.9 million from the sale and deconsolidation of a 90% interest in a wholly-owned multifamily asset in Northern California, two non-core office buildings in Ireland and non-core commercial assets in the United Kingdom. We received $167.3 million in investing distributions from our co-investments primarily from the recapitalization of our interest in Kona Village, excess proceeds from multifamily properties that were refinanced, the payoff of a loan in our European loan business and the redemption of our interests in hedge funds.  Loan draws and our share of new loans issued as part of our Construction Loan and bridge credit platform totaled $26.0 million.  We received $32.9 million of proceeds from repayments on loans previously issued.  We spent $25.7 million on acquisition of an industrial development asset in London and $20.4 million on capital expenditures related to consolidated assets primarily relating to development properties as well as