Company: KW
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001408100-25-000115
Chunk: 104

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 104
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 2025 and December 31, 2024.  Additionally, the Company has recorded fair value movements and interest expense savings as the value of the interest rate caps and swaps have increased with rising interest rates.  See Interest Rate Caps and Swaps in Note 5 for more detail.  As of March 31, 2025, 72% of Kennedy Wilson's property level debt was fixed rate, 27% was floating rate with interest caps and swaps and 1% was floating rate without interest caps and swaps, compared to 70% of Kennedy Wilson's consolidated property level debt was fixed rate, 27% was floating rate with interest caps and swaps and 2% was floating rate without interest caps and swaps, as of December 31, 2024.  The weighted average strike price on caps and maturity of Kennedy Wilson's variable rate mortgage debt is 3.06% and approximately 1.0 year, respectively, as of March 31, 2025.  Mortgage Loan Maturities    The aggregate maturities of mortgage loans as of March 31, 2025 including amortization and the effects of any extension options. In certain cases, extension options will only be granted after meeting certain lender loan covenants.(Dollars in millions)Aggregate Maturities2025 (remainder)(1)$96.8 2026567.8 2027346.1 2028337.0 2029309.8 Thereafter978.0 2,635.5 Unamortized debt discount(1.3)Unamortized loan fees(13.5)Total Mortgage Debt$2,620.7 (1) The Company is actively negotiating loan extensions and refinances with lenders on these loans.      As of March 31, 2025, the Company was in compliance with all financial mortgage debt covenants.

20

Kennedy-Wilson Holdings, Inc.Notes to Consolidated Financial Statements(Unaudited)

NOTE 9—KW UNSECURED DEBT

    The following table details KW unsecured debt as of March 31, 2025 and December 31, 2024:(Dollars in millions)March 31, 2025December 31, 2024Credit facility$272.7 $98.3 Senior notes(1):2029 Notes601.2 601.3 2030 Notes600.0 600.0