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Loan Purchases and Originations
9 Months Ended
Sep. 30, 2017
Receivables [Abstract]  
LOAN PURCHASES AND ORIGINATIONS
LOAN PURCHASES AND ORIGINATIONS
KW Group's investment in loan purchases and originations was $85.4 million and $87.7 million at September 30, 2017 and December 31, 2016, respectively.
During the first quarter of 2017, Kennedy Wilson collected, in full, approximately $6.4 million on a loan secured by an office property in San Diego, CA.
During the third quarter of 2017, KWE sold one loan within a portfolio secured by a hotel in the United Kingdom and received proceeds of $10.5 million. Additionally, KWE received $2.5 million of distributions related to the remaining six loans within the portfolio secured by six hotels throughout the United Kingdom.
KW Group recognized interest income on loans of $8.5 million and $15.0 million during the three and nine months ended September 30, 2017, respectively, and $3.4 million and $9.2 million during the three and nine months ended September 30, 2016, respectively.