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Real Estate and In-Place Lease Value (Tables)
 6 Months Ended
Jun. 30, 2018
Real Estate [Abstract]  
Schedule of Investment in Consolidated Real Estate Properties
During the six months ended June 30, 2018, Kennedy Wilson recognized the following gains on sale of real estate (dollars in millions):
Description
Consolidated (1)
NCI
Net of NCI
15 commercial properties in the United Kingdom, three multifamily properties in Ireland, one residential property in Ireland and one residential property in the Western United States
$
230.0

$
69.0

$
161.0

(1) Includes both gain on sale of real estate, and the sale of land and development projects, which is the net of sale of real estate and cost of real estate sold.
The following table summarizes Kennedy Wilson's investment in consolidated real estate properties at June 30, 2018 and December 31, 2017:
 
 
June 30,
 
December 31,
(Dollars in millions)
 
2018
 
2017
Land
 
$
1,450.1

 
$
1,509.4

Buildings
 
4,281.6

 
4,558.0

Building improvements
 
558.7

 
511.2

In-place lease values
 
391.3

 
417.3

 
 
6,681.7

 
6,995.9

Less accumulated depreciation and amortization
 
(584.0
)
 
(552.2
)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization
 
$
6,097.7

 
$
6,443.7
Schedule of Business Acquisitions, by Acquisition
During the six months ended June 30, 2018, Kennedy Wilson acquired the following consolidated properties:
(Dollars in millions)
Purchase Price Allocation at Acquisition(1)
Location
Description
Land
Building
Acquired in place lease values(2)
Investment debt
NCI
KWH Shareholders' Equity
Western U.S.
Two multifamily properties and one commercial property
$
45.8

$
80.5

$
0.6

$
83.7

$
—

$
43.2

United Kingdom
One residential property
4.2

—

—

—

—

4.2

Ireland
One multifamily property
11.1

96.0

2.1

61.3

—

47.9

 
 
$
61.1

$
176.5

$
2.7

$
145.0

$
—

$
95.3

(1) Excludes net other assets.
(2) Includes above and below market leases in this table. Above and below market leases are part of other assets and accrued expenses and other liabilities.