Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2013

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

Kennedy-Wilson Holdings, Inc. and Subsidiaries

Schedule III—Real Estate and Accumulated Depreciation

December 31, 2013

(Dollars in millions)				Initial Cost				Costs Capitalized Subsequent to Acquisition		Gross Balance at December 31, 2013 (1)
Description	Region	Encumbrances		Land		Building & Improvements		Improvements		Land		Building & Improvements		Total		Accumulated Depreciation			Depreciable Life in Years	Date of Construction	Date Acquired
Commercial
Commercial building	Western U.S.	$	18.7	$	11.2	$	18.5	$	0.9	$	11.2	$	19.3	$	30.5	$	(0.2	)	39 yrs	1955/1981/1982	2013
Retail	Western U.S.	3.9		1.3		4.2		—		1.3		4.2		5.5		—			39 yrs	1981	2013
Retail	Western U.S.	3.0		1.4		0.8		—		1.4		0.8		2.2		—			39 yrs	1971/1982/1983	2013
Retail	Western U.S.	4.8		2.1		2.9		—		2.1		2.9		5.0		—			39 yrs	1958/1974-1976/1985/1989/2006	2013
Retail	Western U.S.	12.3		5.1		7.8		0.5		5.1		8.4		13.5		(0.1		)	39 yrs	1989	2013
Retail	Western U.S.	8.0		3.5		7.4		—		3.5		7.4		10.9		—			39 yrs	1980/1983	2013
Retail	Western U.S.	7.3		2.7		6.7		—		2.7		6.7		9.4		—			39 yrs	1975	2013
Commercial building	Ireland	—		0.7		0.5		—		0.7		0.5		1.2		—			39 yrs	1840/2000	2013
Commercial building	Western U.S.	29.0		8.8		31.4		1.3		8.8		32.7		41.5		(0.9		)	39 yrs	1991	2012
Commercial building	Western U.S.	7.0		1.0		8.1		0.1		1.0		8.2		9.2		(0.2		)	39 yrs	1983	2012
Industrial/Land	Western U.S.	2.1		1.1		1.9		—		1.1		1.9		3.0		(0.1		)	39 yrs	N/A	2011
Retail	Western U.S.	0.6		0.4		0.4		—		0.4		0.4		0.8		—			39 yrs	N/A	2011
Commercial building	Western U.S.	12.0		6.2		15.0		1.2		6.2		16.3		22.5		(1.0		)	39 yrs	2007	2011
Commercial building	Japan	2.4		4.0		3.2		0.3		4.2		3.3		7.5		(0.9		)	37 yrs	2007	2008
Multifamily
615-unit multifamily building	Western U.S.	92.1		30.0		90.1		0.6		30.0		90.7		120.7		(1.8		)	39 yrs	1965/2006	2013
450-unit multifamily building	Western U.S.	49.7		18.4		43.0		0.7		18.4		43.7		62.1		(0.8		)	39 yrs	1974	2013
297-unit multifamily building	Western U.S.	22.4		3.9		25.8		—		3.9		25.8		29.7		—			39 yrs	1999	2013
178-unit Apartment building	Western U.S.	23.5		12.3		18.5		2.0		12.3		20.4		32.7		(0.7		)	39 yrs	1975	2012
217-unit Multifamily property	Western U.S.	26.0		2.6		41.4		—		2.5		39.5		42.0		(1.1		)	39 yrs	2011	2012
366-unit Apartment building	Western U.S.	33.1		9.1		36.3		1.6		9.1		37.9		47.0		(1.1		)	39 yrs	2000	2012
204-unit Apartment building	Western U.S.	14.3		5.3		20.2		1.1		5.3		21.3		26.6		(5.5		)	39 yrs	1986	2008

Kennedy-Wilson Holdings, Inc. and Subsidiaries

Schedule III—Real Estate and Accumulated Depreciation (continued)

December 31, 2013

(Dollars in millions)				Initial Cost				Costs Capitalized Subsequent to Acquisition		Gross Balance at December 31, 2013 (1)
Description	Region	Encumbrances		Land		Building & Improvements		Improvements		Land		Building & Improvements		Total		Accumulated Depreciation			Depreciable Life in Years	Date of Construction	Date Acquired
Residential
Condominium units	Western U.S.	28.0		9.8		95.3		—		9.8		95.3		105.1		(0.2		)	39 yrs	2006	2013
Condominium units	Western U.S.	—		—		2.3		—		—		0.6		0.6		—			39 yrs	2007	2010
Single family home	Western U.S.	—		4.1		4.2		0.4		4.5		4.3		8.8		(0.6		)	39 yrs	2008	2008
Land
18 acres	Western U.S.	1.6		2.3		—		—		2.3		—		2.3		—			N/A	N/A	2011
Single family home lot	Western U.S.	—		4.1		—		0.3		4.4		—		4.4		—			N/A	N/A	2010
2700 acres	Western U.S.	—		31.8		3.8		4.5		35.6		4.3		39.9		(0.6		)	N/A	1912	2010
Grand Total		$	401.8	$	183.2	$	489.7	$	15.5	$	187.8	$	496.8	$	684.6	$	(15.8	)

⁽¹⁾ The tax basis of all the properties in aggregate totaled $608.1 million.

Changes in real estate for the years ended December 31 2013, 2012 and 2011 were as follows:

	For the year ended December 31,
(Dollars in millions)	2013			2012			2011
Balance at the beginning of period	$	296.8		$	121.3		$	86.7
Additions during the period:
Improvements	8.9			1.8			3.4
Acquisitions	391.4			193.7			38.8
Deductions during the period:
Dispositions	(12.5		)	(20.0		)	(7.6		)
Balance at close of period	$	684.6		$	296.8		$	121.3

Changes in accumulated depreciation for the years ended December 31 were as follows:

	For the year ended December 31,
(Dollars in millions)	2013		2012		2011
Balance at the beginning of period	$	7.4	$	5.4	$	4.0
Additions during the period:
Depreciation expense	8.4		2.0		1.4
Deductions during the period:
Dispositions	—		—		—
Balance at close of period	$	15.8	$	7.4	$	5.4

See accompanying report of independent registered public accounting firm.