Company: KW
Filing Date: 2025-11-07
Form Type: 424B3
Source: 0001408100-25-000180
Chunk: 102

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-11-07
Form: 424B3
Chunk 102
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 nine months ended September 30, 2024:

◦ occupancy increased to 95.2% from 94.8%

◦ net operating income increased by 3.0%

◦ total revenues increased by 1.9%

• For our 10,367 same property affordable rate multifamily units for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024:

◦ occupancy was down 0.6% to 93.6%

◦ net operating income increased by 3.2%

◦ total revenues increased by 4.5%

• For 3.1 million square feet of same property office real estate for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024:

◦ occupancy was down 2.0% to 91.8%

◦ net operating income decreased by 4.7%

◦ total revenues decreased by 2.0%

• Investment Transactions

◦ Consolidated Portfolio:

▪ (i) Acquired an industrial development site in the United Kingdom for $48 million, which we expect to recapitalize with a partner; (ii) recapitalized and deconsolidated a 1,008 unit wholly-owned multifamily property which reduced the Company’s ownership interests in the asset to 10%; and (iii) sold non-core assets: a wholly-owned 88-unit multifamily property located in the Mountain West, office assets in Ireland, Italy and the United Kingdom. These transactions dispositions $155.0 million of cash to KW and a gain on sale of $65.4 million

◦ Co-Investment Portfolio:

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Acquired nine multifamily properties in the Mountain West and industrial properties in the Pacific Northwest and Southeast for $682.8 million. KW has a weighted-average 13.0% ownership interest in these acquisitions. Acquired five additional sites for our UK single family platform.

▪ Completed recapitalization of 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. Additionally, the Company completed a recapitalization of a 687-unit Southern California multifamily community, reducing the Company's ownership from 51% to 10% through a new joint venture, generating $