REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE (Tables)

12 Months Ended

Dec. 31, 2022

Real Estate [Abstract]

Schedule of Investments in Consolidated Properties

The following table summarizes the Company's investment in consolidated real estate properties at December 31, 2022 and 2021:

	December 31,
(Dollars in millions)	2022		2021
Land	$	1,319.2	$	1,277.6
Buildings	3,961.9		3,744.1
Building improvements	494.2		545.6
Acquired in-place lease values	295.0		330.6
	6,070.3		5,897.9
Less accumulated depreciation and amortization	(882.2)		(838.1)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	$	5,188.1	$	5,059.8

(Dollars in millions)		Gain on sale of real estate
Year ended December 31,	Description	Consolidated		NCI		Net of NCI
2022	Primarily due to the sale of a 49% equity interest in a multifamily property in Western United States that was previously wholly-owned and controlled by the Company and the sale of a wholly-owned office property in the United Kingdom	$	103.7	$	(1.0)	$	102.7
2021	Primarily due to the sale of a 49% equity interest in nine multifamily properties in Western United States that were previously wholly-owned and controlled by the Company and the sale of 19 office properties in the United Kingdom, one multifamily property in Western United States, three retail properties in Western United States and an office property in Western United States	412.7		(5.4)		407.3
2020	20 industrial properties (including the deconsolidation of previously consolidated real estate as discussed below), 19 retail properties, three office properties, and one multifamily property in United Kingdom, two multifamily properties and two office properties in Ireland, one retail property in Spain, and one multifamily property in the Western United States.	338.0		(0.6)		337.4

Schedule of Business Acquisitions

During the year ended December 31, 2022, Kennedy Wilson acquired the following consolidated properties which were treated as asset acquisitions:

(Dollars in millions)		Purchase Price Allocation at Acquisition(1)
Location	Description	Land		Building		Acquired in-place lease values(2)		Investment debt		KWH Shareholders' Equity
Western U.S.	Four multifamily properties	$	99.2	$	396.6	$	1.4	$	203.4	$	293.8
United Kingdom	Office building	25.5		74.1		6.9		—		106.5
		$	124.7	$	470.7	$	8.3	$	203.4	$	400.3

(1) Excludes net other assets.

(2) Above- and below-market leases are included in other assets and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets.

During the year ended December 31, 2021, Kennedy Wilson acquired the following consolidated properties which were treated as asset acquisitions:

(Dollars in millions)		Purchase Price Allocation at Acquisition(1)
Location	Description	Land		Building		Acquired in-place lease values(2)		Investment debt		KWH Shareholders' Equity
Western U.S.	Ten multifamily properties	$	166.1	$	610.9	$	2.3	$	469.1	$	310.2
United Kingdom	Two commercial properties	95.9		231.3		22.3		—		349.5
		$	262.0	$	842.2	$	24.6	$	469.1	$	659.7

(1) Excludes net other assets.

(2) Above- and below-market leases are included in other assets and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets.

Lessor, Operating Lease, Payments to be Received, Maturity

The following table summarizes the minimum lease payments due from the Company's tenants on leases with lease periods greater than one year at December 31, 2022:

(Dollars in millions)	Minimum
	Rental Revenues(1)
2023	$	144.2
2024	127.9
2025	112.8
2026	95.6
2027	76.6
Thereafter	232.6
Total	$	789.7

(1) These amounts do not reflect future rental revenues from the renewal or replacement of existing leases, rental increases that are not fixed and exclude reimbursements of rental expenses.