Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

Kennedy-Wilson Holdings, Inc.

Schedule III—Real Estate and Accumulated Depreciation

December 31, 2022

(Dollars in millions)				Initial Cost				Costs Capitalized Subsequent to Acquisition		Gross Balance at December 31, 2022(1)
Description	Region	Encumbrances		Land		Building & Improvements		Improvements		Land		Building & Improvements		Total(2)		Accumulated Depreciation		Depreciable Life in Years	Date of Construction	Date Acquired(3)
Commercial
Office	Southern California	$	35.0	$	11.2	$	18.5	$	34.8	$	11.5	$	54.3	$	65.8	$	(10.3)	39 years	1955/1981/1982	2013
Retail	Mountain West	1.1		0.5		1.2		0.4		0.5		1.7		2.2		(0.4)		39 years	1981	2013
Retail	Mountain West	3.5		2.6		5.6		1.2		2.6		6.9		9.5		(1.5)		39 years	1980/1983	2013
Retail	Southern California	27.0		9.1		14.0		13.8		9.1		27.8		36.9		(4.9)		39 years	1985	2014
Commercial portfolio	United Kingdom	—		16.6		3.9		5.6		1.2		15.5		16.7		(3.3)		39 years	Various	2014
Commercial portfolio	United Kingdom	30.2		47.9		249.0		10.9		28.5		182.6		211.1		(46.9)		39 years	Various	2014
Office	Ireland	71.6		8.2		102.6		—		6.4		80.7		87.1		(17.1)		39 years	2003	2014
Retail	Ireland	80.8		59.8		83.1		24.3		46.9		88.7		135.6		(15.8)		39 years	1966/2005	2014
Office	Ireland	61.6		20.4		73.8		5.4		16.1		63.4		79.5		(14.9)		39 years	1980	2014
Office	United Kingdom	173.6		85.3		232.0		26.6		74.1		204.0		278.1		(55.0)		39 years	2003	2014
Retail	United Kingdom	—		6.2		109.5		7.3		4.5		87.2		91.7		(19.0)		39 years	2010	2014
Office	Southern California	22.4		31.8		60.6		22.1		31.8		82.6		114.4		(18.5)		39 years	1982	2015
Office	Southern California	28.8		11.6		36.5		5.3		11.6		41.8		53.4		(10.3)		39 years	1968	2015
Office	Southern California	35.0		20.7		47.9		26.1		20.7		53.9		74.6		(12.0)		39 years	1982	2015
Commercial portfolio	United Kingdom	165.8		86.7		159.7		7.8		58.7		108.6		167.3		(21.5)		39 years	Various	2015
Office portfolio	United Kingdom	—		19.0		41.2		17.6		20.0		41.4		61.4		(5.6)		39 years	Various	2015
Retail	Spain	36.9		27.1		46.2		12.7		28.4		61.1		89.5		(9.8)		39 years	1995	2015
Office portfolio	Italy	—		26.3		74.8		0.6		30.1		86.2		116.3		(15.4)		39 years	Various	2015
Retail	Mountain West	6.0		2.0		9.5		4.3		2.0		13.8		15.8		(1.8)		39 years	1961	2016
Office building	Ireland	—		2.0		11.9		0.2		1.9		11.7		13.6		(2.0)		39 years	2007	2016
Office portfolio	United Kingdom	61.4		32.1		70.4		5.9		26.8		64.6		91.4		(11.3)		39 years	Various	2016
Office	Ireland	37.5		4.2		64.0		2.0		3.9		61.5		65.4		(10.2)		39 years	2009	2016
Office	Pacific Northwest	77.0		30.6		106.0		3.6		30.6		109.6		140.2		(15.4)		39 years	1999/2001	2017
Office	Ireland	15.9		4.9		18.5		8.0		4.4		24.8		29.2		(2.7)		39 years	1841	2017
Office	Ireland	52.0		11.0		—		2.0		10.1		52.6		62.7		(1.1)		39 years	1840/2000	2017
Office	Northern California	60.7		23.5		57.3		5.3		23.5		62.6		86.1		(4.8)		39 years	2000	2019
Office	United Kingdom	118.1		71.2		177.9		—		62.0		155.0		217.0		(5.8)		39 years	2019	2021
Office	United Kingdom	38.5		25.3		54.8		0.5		22.7		49.4		72.1		(1.3)		39 years	2001/2007	2021
Office	United Kingdom	49.8		25.5		74.1		0.8		23.0		67.4		90.4		(1.7)		39 years	2004	2022

Office	Ireland	51.4	0.5	3.4	49.9	0.5	59.2	59.7	(0.6)	39 years	Various	2015
Multifamily
366-unit asset	Mountain West	50.4	9.1	36.3	13.8	9.1	50.1	59.2	(20.9)	39 years	2000	2012
1,008-unit asset	Northern California	175.0	62.3	152.5	24.9	62.3	177.4	239.7	(46.2)	39 years	1988	2015
460-unit asset	Southern California	46.7	13.2	53.0	7.1	13.2	60.1	73.3	(14.9)	39 years	1988	2015
204-unit asset	Mountain West	14.3	2.0	17.6	4.2	1.9	21.8	23.7	(5.3)	39 years	1999	2016
168-unit asset	Mountain West	10.9	1.8	13.1	4.0	1.8	17.0	18.8	(4.3)	39 years	1992	2016
430-unit asset	Pacific Northwest	61.0	12.8	67.4	5.5	12.8	72.9	85.7	(14.1)	39 years	2006	2016
386-unit asset	Southern California	66.0	—	81.4	9.4	—	90.8	90.8	(18.0)	39 years	2002	2016
Land	Southern California	—	0.6	—	—	27.9	—	27.9	—	39 years	N/A	2018
300-unit asset	Mountain West	39.0	4.8	29.2	6.6	4.8	35.8	40.6	(6.5)	39 years	1995	2017
210-unit asset	Pacific Northwest	44.5	11.0	46.7	1.2	11.0	47.9	58.9	(6.9)	39 years	2007	2017
200-unit asset	Mountain West	20.6	1.4	25.9	1.2	1.4	27.1	28.5	(4.0)	39 years	2012	2017
172-unit asset	Mountain West	—	0.2	—	—	34.3	—	34.3	—	39 years	N/A	2018
264-unit asset	Pacific Northwest	24.2	6.4	44.9	5.8	6.4	50.7	57.1	(8.1)	39 years	1997	2017
343-unit asset	Pacific Northwest	84.0	26.8	107.4	1.1	26.8	108.5	135.3	(14.4)	39 years	2016	2017
179-unit asset	Pacific Northwest	33.2	11.9	47.4	1.9	11.9	49.4	61.3	(6.8)	39 years	2013	2017
88-unit asset	Mountain West	8.6	2.6	10.4	1.8	2.6	12.2	14.8	(2.2)	39 years	1988	2018
492-unit asset	Mountain West	59.1	15.8	63.2	7.9	15.9	71.1	87.0	(11.3)	39 years	1985	2018
66-unit asset	Mountain West	8.0	0.8	—	—	0.7	9.2	9.9	(0.5)	39 years	2021	2018
89-unit asset	Mountain West	10.2	2.1	—	—	2.0	21.0	23.0	(0.2)	39 years	N/A	2018
293-unit asset	Mountain West	19.9	7.2	28.8	1.1	7.2	29.9	37.1	(3.8)	39 years	1995	2018
188-unit asset	Mountain West	13.5	4.9	19.7	7.9	4.9	27.5	32.4	(4.7)	39 years	1985	2018
120-unit asset	Mountain West	32.3	5.7	—	0.4	1.9	38.1	40.0	(2.2)	39 years	2021	2018
277-unit asset	Mountain West	62.2	4.0	—	6.9	2.7	55.3	58.0	(3.8)	39 years	2021	2019
10-unit asset	Mountain West	—	—	—	—	—	2.3	2.3	(0.1)	39 years	2021	2019
360-unit asset	Mountain West	70.0	16.4	65.7	1.9	16.4	67.6	84.0	(5.4)	39 years	2015	2019
260-unit asset	Mountain West	39.4	13.4	53.6	2.9	13.4	56.6	70.0	(3.4)	39 years	2014	2020
280-unit asset	Mountain West	39.6	13.3	53.2	0.2	13.3	53.4	66.7	(2.3)	39 years	2019	2021
Land	Mountain West	—	—	—	—	1.0	—	1.0	—	39 years	N/A	2021
344-unit asset	Mountain West	39.2	13.0	52.1	4.0	13.0	56.1	69.1	(2.3)	39 years	1985	2021
Land	Mountain West	16.6	4.6	—	—	36.4	—	36.4	—	39 years	N/A	2021
240-unit asset	Mountain West	45.1	11.1	44.3	1.0	11.1	45.8	56.9	(1.8)	39 years	2020	2021
160-unit asset	Mountain West	13.9	4.5	17.9	0.3	4.5	18.3	22.8	(0.7)	39 years	1990/1998	2021
332-unit asset	Mountain West	76.2	26.7	106.9	2.2	26.7	109.0	135.7	(3.6)	39 years	2002	2021
383-unit asset	Pacific Northwest	115.0	38.3	153.0	3.0	38.2	156.1	194.3	(5.1)	39 years	2002/2008	2021
164-unit asset	Pacific Northwest	43.0	14.8	59.2	0.1	14.8	59.3	74.1	(1.9)	39 years	2020	2021
528-unit asset	Mountain West	102.0	31.1	124.4	2.9	31.1	127.3	158.4	(3.4)	39 years	1989/1990	2021
Land	Mountain West	7.8	8.0	—	—	22.4	—	22.4	—	39 years	N/A	2021
350-unit asset	Mountain West	64.9	33.2	132.6	0.9	33.2	133.5	166.7	(2.3)	39 years	1985	2022
404-unit asset	Mountain West	61.6	29.6	118.3	0.4	29.6	118.7	148.3	(2.0)	39 years	1996	2022

356-unit asset	Mountain West	41.0	20.8	83.1	1.0	20.8	84.1	104.9	(1.5)	39 years	1995/2008	2022
260-unit asset	Mountain West	34.0	15.7	62.6	0.3	15.7	62.9	78.6	(0.6)	39 years	2013	2022

Hotel
Hotel	Ireland	—		54.0		114.3		33.4		44.5		129.8		174.3		(40.7)		39 years	1824/2005	2014
Development
Retail	Spain	—		—		34.7		16.3		—		48.4		48.4		—		N/A	N/A	2015
Retail	Spain	—		—		13.8		—		—		13.2		13.2		—		N/A	N/A	2017
Land	United Kingdom			4.2		—		0.1		3.6		0.4		4.0		—		N/A	N/A	2018
Office	Ireland	—		1.2		0.9		0.9		1.2		0.9		2.1		—		N/A	N/A	2020
Multifamily	Southern California	—		6.0		—		4.0		6.0		4.0		10.0		—		N/A	N/A	2015
Office	Ireland	—		—		9.6		—		—		9.6		9.6		(0.1)		39 years	1980	2022
2700 acres	Hawaii	—		31.7		3.7		0.7		28.2		4.4		32.6		(2.4)		N/A	1912	2010
3 Lots	Hawaii	—		16.5		—		—		16.5		—		16.5		—		N/A	N/A	2020
Grand Total		$	3,034.5	$	1,339.3	$	4,156.7	$	494.2	$	1,319.2	$	4,456.1	$	5,775.3	$	(619.6)

(1) The tax basis of all the properties in aggregate totaled $4,844.5 million.

(2) Excludes acquired in place lease values.

(3) For assets that were consolidated the date acquired represents when the asset was presented as real estate not when initially acquired by Kennedy Wilson.

Changes in real estate for the years ended December 31, 2022, 2021 and 2020 were as follows:

	For the year ended December 31,
(Dollars in millions)	2022		2021		2020
Balance at the beginning of period	$	5,567.3	$	5,207.7	$	5,430.5
Additions during the period:
Other acquisitions	167.6		137.3		183.0
Improvements	604.2		1,110.4		108.4
Foreign currency	(226.0)		(91.8)		129.9
Deductions during the period:
Cost of real estate sold	(337.8)		(796.3)		(644.1)
Balance at close of period	$	5,775.3	$	5,567.3	$	5,207.7

Changes in accumulated depreciation for the years ended December 31, 2022, 2021 and 2020 were as follows:

	For the year ended December 31,
(Dollars in millions)	2022		2021		2020
Balance at the beginning of period	$	564.0	$	551.8	$	466.8
Additions during the period:
Depreciation expense	133.8		30.9		121.5
Deductions during the period:
Dispositions	(50.8)		(11.1)		(54.5)
Foreign currency	(27.4)		(7.6)		18.0
Balance at close of period	$	619.6	$	564.0	$	551.8

See accompanying report of independent registered public accounting firm.