Investment Debt (Tables)

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

Schedule of Mortgage Loans and Notes Payable

Investment debt at September 30, 2015 and December 31, 2014 consists of the following:

(Dollars in millions)		Carrying Amount of Investment Debt as of (1)
Investment Debt by Product Type	Region	September 30, 2015		December 31, 2014
Mortgage debt
Multifamily (1)	Western U.S.	$	824.7	$	565.5
Commercial	Western U.S.	256.6		131.0
Hotel	Western U.S	39.5		37.2
Multifamily (1)	Japan	—		242.9
Commercial	Japan	2.1		2.1
Commercial (1)(2)	Ireland	391.5		412.5
Multifamily (1)(3)	Ireland	192.6		133.6
Residential and Other(1)(5)	Ireland	4.0		29.0
Hotel	Ireland	80.5		72.9
Residential and Other(7)	Spain	3.5		—
Commercial (1)(4)	United Kingdom	1,054.7		569.2
Total mortgage debt		2,849.7		2,195.9
Unsecured (6)	United Kingdom	446.9		—
Investment debt		$	3,296.6	$	2,195.9

⁽¹⁾ The investment debt payable balances include unamortized debt premiums. Debt premiums represent the excess of the fair value of debt over the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized loan premium as of September 30, 2015 and December 31, 2014 was $1.9 million and $15.4 million.

⁽²⁾ Includes $295.1 million and $323.8 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014, respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015.

⁽³⁾ Includes $53.0 million and $40.3 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014, respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015.

⁽⁴⁾ Includes $969.4 million and $483.0 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014, respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015.

⁽⁵⁾ Includes $0.0 million and $14.6 million of investment debt on properties that were acquired and held by KWE as of September 30, 2015 and December 31, 2014, respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015.

⁽⁶⁾ Includes $446.9 million and $0.0 million of unsecured debt held by KWE as of September 30, 2015 and December 31, 2014, respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015.

⁽⁷⁾ Includes $3.5 million and $0.0 million of investment debt held by KWE as of September 30, 2015 and December 31, 2014, respectively. Kennedy Wilson owns approximately 17.7% of the total issued share capital of KWE as of September 30, 2015.

			September 30, 2015							December 31, 2014
(Dollars in millions)					Unamortized							Unamortized
	Interest Rate	Maturity Date	Face Value		Net Premium/(Discount)			Carrying Value		Face Value		Net Premium/(Discount)			Carrying Value
2042 Notes	7.75%	12/1/2042	$	55.0	$	—		$	55.0	$	55.0	$	—		$	55.0
2024 Notes	5.88%	4/1/2024	650.0		(2.5		)	647.5		650.0		(2.6		)	647.4
Senior Notes			$	705.0	$	(2.5	)	$	702.5	$	705.0	$	(2.6	)	$	702.4

Schedule of Maturities of Mortgage Loans and Notes Payable

The aggregate maturities of investment debt subsequent to September 30, 2015 are as follows:

(Dollars in millions)	Aggregate Maturities
2015	$	8.8
2016	44.5
2017	193.9
2018	247.2
2019	911.7
Thereafter	1,888.6
	3,294.7
Debt premium	1.9
	$	3,296.6