Company: KW
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001408100-25-000147
Chunk: 11

Company: Kennedy-Wilson Holdings, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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 value-add commercial properties in the United Kingdom, Ireland and Spain that also have expected hold periods of 5 to 7 years.  As of June 30, 2025, our weighted average ownership interest in the commingled funds that we manage was 13%. 

VHH

      Through our Vintage Housing Holdings ("VHH") partnership we acquire and develop income and age restricted properties. See a detailed discussion of this business in the Multifamily section below.

    Investment Types

    The following are the product types we invest in through our Consolidated Portfolio and Co-Investment Portfolio segments: 

    Rental Housing

    We pursue multifamily acquisition opportunities where we can unlock value through a myriad of strategies, including institutional management, asset rehabilitation, repositioning and recapitalization. We focus primarily on apartments in supply-constrained, infill markets.

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As of June 30, 2025, our global rental housing portfolio consisted of 39,894 units and 1,177 single family housing units.

TotalConsolidatedCo-InvestmentsMultifamily units - market rate units(1)27,199 8,250 18,949 Multifamily units - affordable rate units(1)12,695 — 12,695 Single family housing units1,177 — 1,177 (1) Includes 2,158 units that are under development or undergoing lease up.

Our largest Western United States multifamily regions are the Mountain West region (which includes our investments in Idaho, Utah, Nevada, Arizona and New Mexico) and the Pacific Northwest (primarily the state of Washington). The remainder of the Western United States portfolio is located in Northern and Southern California. In Europe, we focus on Ireland, particularly Dublin city center and its immediately surrounding suburbs.

Our asset management strategy entails installing strong property management teams to drive leasing activity and upkeep of the properties. We also seek to add amenities designed to promote health and wellness, celebrate local and cultural events and enhance the lives of residents living in our communities. We also incorporate spaces for rest and socialization across our global multifamily portfolio, including clubhouses, fitness centers, business suites, outdoor play areas, pools and dog parks.

In addition to traditional multifamily units, during the fourth quarter 2024 we launched a new UK single-family rental housing joint-venture with the Canada Pension Plan Investment Board ("CPPIB"), targeting £1 billion in real estate. Under this arrangement, CP