Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 307

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 307
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1 million for the three months ended September 30, 2025 as compared to $6.2 million during the same period in 2024.  The gain on sale of real estate, net during the three months ended September 30, 2025 was due to the sale of a wholly-owned multifamily property in Utah and non-core commercial assets in the United Kingdom and Italy.  

    Rental expenses was $34.7 million for the three months ended September 30, 2025 as compared to $39.0 million for the three months ended September 30, 2024.  The decrease is due to asset sales as discussed above.      

Compensation and related expenses decreased to $6.9 million for three months ended September 30, 2025 as compared to $7.6 million for the three months ended September 30, 2024 due to lower discretionary compensation accrual in the current period.

General and administrative expenses decreased to $2.2 million for three months ended September 30, 2025 as compared to $3.7 million for the three months ended September 30, 2024 due to lower travel and IT costs in the current period.    

Other loss was $2.1 million for the three months ended September 30, 2025 as compared to other loss of $3.3 million for the three months ended September 30, 2024. We recorded mark to market fair value gains of $0.3 million on undesignated interest rate caps and swap contracts associated with consolidated investments held in the current period, primarily at KWE. We received $2.1 million in cash payments on these derivatives during the three months ended September 30, 2025.  We entered into these undesignated contracts to hedge against rising interest rates. We also had realized foreign exchange losses of $1.2 million for the three months ended September 30, 2025. Other loss for the three months ended September 30, 2024 was due to mark to market fair value losses of $2.3 million and received $4.8 million in cash payments. We also had realized foreign exchange losses of $1.6 million for the three months ended September 30, 2024.

The following items are not in Segment Adjusted EBITDA above for the Consolidated portfolio but are in net loss attributable to Kennedy-Wilson Holdings, Inc. common shareholders:      

Depreciation and amort