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Unconsolidated Investments (Tables)
 3 Months Ended
Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Investments in Unconsolidated Joint Ventures
The Company has unconsolidated investments through real estate related joint ventures and loan pool participations. The following table details its investments in joint ventures and loan pool participations as of March 31, 2014 and December 31, 2013:

 
 
March 31,
 
December 31,
(Dollars in millions)
 
2014
 
2013
Investments in joint ventures
 
$
584.5

 
$
751.4

Investments in loan pool participations
 
35.2

 
34.7

Total
 
$
619.7

 
$
786.1
Schedule of Joint Ventures by Location and Investment Type
The following table details our investments in joint ventures by investment type and geographic location as of March 31, 2014:
(Dollars in millions)
Multifamily
Commercial
Loan
Residential
Other
Total
Western U.S.
$
136.9

$
159.2

$
50.7

$
49.0

$
9.7

$
405.5

Japan
67.9

—

—

—

—

67.9

United Kingdom
—

51.0

—

—

—

51.0

Ireland
—

33.3

—

—

—

33.3

Spain
—

—

—

—

26.8

26.8

Total
$
204.8

$
243.5

$
50.7

$
49.0

$
36.5

$
584.5

The following table details our investments in joint ventures by investment type and geographic location as of December 31, 2013:
(Dollars in millions)
Multifamily
Commercial
Loan
Residential
Other
Total
Western U.S.
$
133.3

$
160.3

$
50.3

$
48.7

$
8.0

$
400.6

Japan
68.8

—

—

—

—

68.8

United Kingdom
—

104.5

6.3

—

—

110.8

Ireland
48.2

96.1

—

—

—

144.3

Spain
—

—

—

—

26.9

26.9

Total
$
250.3

$
360.9

$
56.6

$
48.7

$
34.9

$
751.4
Schedule of Joint Venture Cash Distributions
During the three months ended March 31, 2014 and 2013, the Company received the following cash distributions from its investment in KWR for the settlement of hedges, refinancing of property level debt, and operating distributions:
 
Three Months Ended March 31,
(Dollars in millions)
2014
 
2013
Settlement of hedges
$
—

 
$
10.8

Refinancing of property level debt
—

 
1.0

Operating distributions
0.4

 
1.7

Total
$
0.4

 
$
13.5
Schedule of New Joint Venture Investments
See the table below for a breakdown of contributions to new joint venture investments for the three months ended March 31, 2014:
 
Multifamily
 
Commercial
 
 
 
(Dollars in millions)
Amount
No. of Properties
 
Amount
No. of Properties
 
Total
No. of Properties
Western U.S.
$
4.0

1

 
$
—

—

 
$
4.0

1

United Kingdom(1)
—

—

 
57.2

14

 
57.2

14

Total contributions - new joint venture investments
$
4.0

1

 
$
57.2

14

 
$
61.2

15
Schedule of Joint Venture Cash Distributions by Investment Type and Geographic Location
The following table details cash distributions by investment type and geographic location for the three months ended March 31, 2014:
 
Multifamily
Commercial
Residential and Other
Total
(Dollars in millions)
Operating
Investing
Operating
Investing
Operating
Investing
Operating
Investing
Western U.S.
$
2.3

$
1.5

$
1.5

—

0.8

$
1.9

$
4.6

$
3.4

Japan
0.4

—

—

—

—

—

0.4

—

United Kingdom
—

—

2.3

4.4

—

—

2.3

4.4

Ireland
—

—

1.2

—

—

—

1.2

—

Spain
—

—

—

—

—

1.0

—

1.0

Total
$
2.7

$
1.5

$
5.0

$
4.4

$
0.8

$
2.9

$
8.5

$
8.8
Schedule of Investment in Loan Pools
The following table represents the demographics of the Company's investment in the loan pools including the initial UPB and the UPB as of March 31, 2014.
(Dollars in millions)
 
Kennedy Wilson Ownership
 
Unpaid Principal Balance
 
Kennedy Wilson Initial Equity Invested
 
Investment Balance at March 31, 2014
 
Expected Accretion Over Total Estimated Collection Period
 
 
Acquisition Date
 
Location
 
 
Initial(1)
 
March 31, 2014(1)
 
 
 
 
Accreted to Date
February 2010(2)
 
Western U.S.
 
15.0%
 
$
342.4

 
$
—

 
$
11.1

 
$
0.6

 
$
4.6

 
$
4.6

December 2011
 
United Kingdom
 
12.5%
 
2,174.6

 
31.8

 
61.2

 
—

 
19.2

 
19.2

April 2012
 
Western U.S.
 
75.0%
 
43.4

 
2.8

 
30.9

 
2.3

 
4.3

 
3.9

August 2012
 
Ireland
 
10.0%
 
496.6

 
347.6

 
7.0

 
8.4

 
1.7

 
0.6

December 2012
 
United Kingdom
 
5.0%
 
646.7

 
150.1

 
19.3

 
4.4

 
4.0

 
2.2

April 2013
 
United Kingdom
 
10.0%
 
193.8

 
131.6

 
13.0

 
11.0

 
3.2

 
0.9

August 2013
 
United Kingdom
 
20.0%
 
142.1

 
142.1

 
7.5

 
8.5

 
4.4

 
0.8

Total
 
 
 
 
 
$
4,039.6

 
$
806.0

 
$
150.0

 
$
35.2

 
$
41.4

 
$
32.2

                          
(1) Estimated foreign exchange rate is £0.60 = $1 USD and €0.73 = $1 USD.
Schedule of Interest Income and Foreign Currency Gain (Loss) Recognized in Loan Pool Participations
The following table presents the income from unconsolidated investments for loan pools and foreign currency gain and (loss) recognized by Kennedy Wilson during the three months ended March 31, 2014 and 2013 for the loan pools that were outstanding:
 
Three Months Ended March 31,
(Dollars in millions)
2014
 
2013
Income from unconsolidated investments
$
2.1

 
$
2.5

Foreign currency translation gain (loss)
0.2

 
(3.9
)
Total
$
2.3

 
$
(1.4
)