Company: KW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001408100-25-000179
Chunk: 242

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 242
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— 28.4 16.4 206.7 Total$1,142.9 $353.4 $249.7 $96.7 $199.7 $2,042.4     During the nine months ended September 30, 2025, the Company has focused on recapitalizing certain of its joint ventures to lower ownership percentages to focus on its capital light investment management approach.  There were $358.3 million of distributions from unconsolidated investments, which are discussed below but primarily consist of Kennedy Wilson selling interests to equity partners in Kona Village and a portfolio of nine multifamily assets located in the Western United Sates. The Company made $108.2 million of contributions to new and existing unconsolidated investments primarily for capital calls for new investments in one of its commingled funds in the Western United States and additional acquisitions of single family homes in our United Kingdom single family rental home platform. Kennedy Wilson also had contributions to European office assets to pay down mortgage debt and to fund operations during lease up. During the nine months ended September 30, 2025, the Company had $45.7 million of income from unconsolidated investments (which includes fair value movements) and a $52.4 million increase related to foreign exchange movements. There were $16.6 million related to other items, which was primarily due to the Company (i) completing a deed-in-lieu transaction on a bridge loan on a retail center located in the South Bay area in Southern California that is now treated as an unconsolidated investment in the underlying real estate in which the Company's share of the loan was $14.4 million and (ii) making a contribution of three wholly-owned, vacant parcels to its residential development joint venture that have a fair value of $20.0 million which was offset by a $17.4 million reduction of a multifamily joint venture that was recapitalized from 51% to 10%.  The transaction closed at the end of the period and cash was received in the fourth quarter 2025 and will be treated as an investing distribution in the subsequent period.   Please see below for additional details.      As of September 30, 2025 and December 31, 2024, $1,697.7 million and $1,884.4 million, respectively, of unconsolidated investments were accounted for under fair value.  See Note 5 for