LOANS

The following table summarizes Kennedy Wilson's investment in loans at June 30, 2014 and December 31, 2013:



	June 30,		December 31,
(Dollars in millions)	2014		2013
Loans	$	398.3	$	52.7
Loans — related parties	4.0		4.1
Total loans	$	402.3	$	56.8

During the first quarter of 2014, Kennedy Wilson acquired the loans secured by a five-star hotel located in Dublin, Ireland for $152.4 million. As of June 30, 2014, due to foreign currency fluctuations, the loans had a balance of $152.5 million and the investment debt balance for the hotel was $81.9 million, which are consolidated on Kennedy Wilson's consolidated balance sheet.

During the second quarter of 2014, KWE acquired the loans secured by five real estate loans under receivership which are secured against five high tech properties located across England for $156.3 million and the acquisition of subordinated notes secured by 20 commercial properties located throughout England and Scotland for $62.2 million.

Loan income

Kennedy Wilson recognized interest income on loans of $3.8 million and $5.5 million during the three and six months ended June 30, 2014, respectively, and $0.5 million and $0.9 million during the three and six months ended June 30, 2013, respectively.