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Loans
6 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
LOANS LOANS
The global debt platform consists of two groups: construction lending platform, which was established with the acquisition of the Construction Loan Portfolio from Pacific Western Bank in the second quarter of 2023 (as detailed below) and our bridge loan platform.
During the second quarter of 2023, the Company and affiliates of Fairfax Financial Holdings Limited (collectively, "Fairfax"), its equity partner, acquired a $3.8 billion construction loan portfolio from Pacific Western Bank (the "Construction Loan Portfolio"). The Company’s investment in the Construction Loan Portfolio was 5% of the purchase price and the future funding obligations. The $3.8 billion represents the gross commitment amount that has a current outstanding balance of $1.9 billion (Kennedy Wilson share of $96.4 million) net of a 4.5% discount on gross commitment amounts. As of June 30, 2023, we had unfulfilled capital commitments totaling $100.5 million to our loan portfolio.
The Company has loan purchases and originations of $244.1 million and $149.4 million at June 30, 2023 and December 31, 2022. For the three and six months ended June 30, 2023 the Company had loan income of $4.7 million and $8.4 million, respectively, and for the three and six months ended June 30, 2022 it had loan income of $2.7 million and $5.0 million, respectively.