Exhibit 5.1

	355 South Grand Avenue, Suite 100 Los Angeles, California 90071-1560 Tel: +1.213.485.1234 Fax: +1.213.891.8763 www.lw.com
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Kennedy-Wilson, Inc.

151 S. El Camino Drive

Beverly Hills, CA 90212

Re: Registration Statement on Form S-4 Relating to Exchange Offer for up to $250,000,000 in Aggregate Principal Amount of Kennedy-Wilson, Inc.’s 5.875% Senior Notes Due 2024

Ladies and Gentlemen:

We have acted as special counsel to Kennedy-Wilson, Inc., a Delaware corporation (the “Company”), in connection with the issuance of up to $250,000,000 in aggregate principal amount of its 5.875% Senior Notes due 2024 (the “Exchange Notes”) and the guarantees of the Exchange Notes (the “Guarantees”) by each of the entities listed on Exhibit A hereto (the “Guarantors”), pursuant to an indenture (the “Base Indenture”) dated as of March 25, 2014 between the Company, and Wilmington Trust, National Association as trustee (the “Trustee”), as supplemented by Supplemental Indenture No. 1 (“Supplemental Indenture No. 1”) dated as of March 25, 2014 among the Company, Kennedy-Wilson Holdings, Inc., a Delaware Corporation (the “Parent”), each subsidiary of the Company named therein and the Trustee, Supplemental Indenture No. 2 (“Supplemental Indenture No. 2”) dated as of September 5, 2014 among the Company, the Parent, the subsidiary of the Company named therein and the Trustee, Supplemental Indenture No. 3 (“Supplemental Indenture No. 3”) dated as of November 11, 2014 among the Company, the Parent, each subsidiary of the Company named therein and the Trustee, Supplemental Indenture No. 4 (“Supplemental Indenture No. 4”) dated as of January 22, 2016, among the Company, the Parent, each subsidiary of the Company named therein and the Trustee, Supplemental Indenture No. 5 (“Supplemental Indenture No. 5”) dated as of February 11, 2016 among the Company, the Parent, each subsidiary of the Company named therein and the Trustee, Supplemental Indenture No. 6 (“Supplemental Indenture No. 6”) dated as of May 19, 2016 among the Company, the Parent, each subsidiary of the Company named therein and the Trustee, Supplemental Indenture No. 7

June 18, 2018

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(“Supplemental Indenture No. 7”) dated as of April 13, 2017 among the Company, the Parent, each subsidiary of the Company named therein and the Trustee, Supplemental Indenture No. 8 (“Supplemental Indenture No. 8”) dated as of February 16, 2018 among the Company, the Parent, each subsidiary of the Company named therein and the Trustee and Supplemental Indenture No. 9 (such supplemental indenture, together with the Base Indenture, Supplemental Indenture No. 1, Supplemental Indenture No. 2, Supplemental Indenture No. 3, Supplemental Indenture No. 4, Supplemental Indenture No. 5, Supplemental Indenture No. 6, Supplemental Indenture No. 7 and Supplemental Indenture No. 8, the “Indenture”) dated as of March 2, 2018 among the Company, the Parent, each subsidiary of the Company named therein and the Trustee, and a registration statement on Form S-4 under the Securities Act of 1933, as amended (the “Act”), filed with the Securities and Exchange Commission (the “Commission”) on June 18, 2018 (the “Registration Statement”). The Exchange Notes and the Guarantees will be issued in exchange for certain of the Company’s outstanding 5.875% Senior Notes due 2024 (the “Private Notes”), and the related guarantees, on the terms set forth in the prospectus contained in the Registration Statement (the “Prospectus”). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or Prospectus, other than as expressly stated herein with respect to the issue of the Exchange Notes and Guarantees.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company, the Guarantors and others as to factual matters without having independently verified such factual matters. We are opining herein as to the internal laws of the State of New York, and we express no opinion with respect to the applicability thereto, or the effect thereon, of the laws of any other jurisdiction or as to any matters of municipal law or the laws of any local agencies within any state. Various matters concerning the laws of the States of California, Delaware and Illinois are addressed in the letter of Kulik, Gottesman & Siegel, LLP, which has been separately provided to you. We express no opinion with respect to those matters herein, and, to the extent elements of those opinions are necessary to the conclusions expressed herein, we have, with your consent, assumed such matters.

Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Exchange Notes have been duly executed, issued and authenticated in accordance with the terms of the Indenture and delivered in exchange for the Private Notes in the circumstances contemplated by the Registration Statement and Prospectus, the Exchange Notes and the Guarantees will be legally valid and binding obligations of the Company and the Guarantors, respectively, enforceable against the Company and the Guarantors, respectively, in accordance with their respective terms.

Our opinion is subject to the following: (i) the effect of bankruptcy, insolvency, reorganization, preference, fraudulent transfer, moratorium or other similar laws relating to or affecting the rights and remedies of creditors; (ii) the effect of general principles of equity, whether considered in a proceeding in equity or at law (including the possible unavailability of specific performance or injunctive relief), concepts of materiality, reasonableness, good faith and fair dealing and the discretion of the

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court before which a proceeding is brought; (iii) the invalidity in certain circumstances under law or court decisions of provisions providing for the indemnification of or contribution to a party with respect to a liability, where such indemnification or contribution is contrary to public policy; and (iv) we express no opinion as to (a) any provision for liquidated damages, default interest, late charges, monetary penalties, make-whole premiums or other economic remedies to the extent such provisions are deemed to constitute a penalty, (b) consents to, or restrictions upon, governing law, jurisdiction, venue, arbitration, remedies or judicial relief, (c) the waiver of rights or defenses contained in Section 4.4 of the Base Indenture, (d) any provision requiring the payment of attorneys’ fees, where such payment is contrary to law or public policy, (e) any provision permitting, upon acceleration of the Exchange Notes, collection of that portion of the stated principal amount thereof that might be determined to constitute unearned interest thereon, (f) provisions purporting to make a guarantor primarily liable rather than as a surety and provisions purporting to waive modifications of any guaranteed obligation, to the extent such modification constitutes a novation, (g) advance waivers of claims, defenses, rights granted by law, notice, opportunity for hearing, evidentiary requirements, statutes of limitation, trial by jury or at law or other procedural rights, (h) waivers of broadly or vaguely stated rights, (i) covenants not to compete, (j) provisions for exclusivity, election or cumulation of rights or remedies, (k) provisions authorizing or validating conclusive or discretionary determinations, (l) grants of setoff rights, (m) proxies, powers and trusts, (n) provisions prohibiting, restricting or requiring consent to assignment or transfer of any right or property, and (o) the severability, if invalid, of provisions to the foregoing effect. We express no opinion or view as to federal or state securities laws, tax laws, antitrust or trade regulation laws, insolvency or fraudulent transfer laws, antifraud laws, compliance with fiduciary duty requirements, pension or employee benefit laws, usury laws, environmental laws, margin regulations, rules of the Financial Industry Regulatory Authority, Inc. or stock exchange rules (without limiting other laws excluded by customary practice).

With your consent, we have assumed that (a) the Indenture, the Exchange Notes and the Guarantees (collectively, the “Documents”) have been duly authorized, executed and delivered by the parties thereto other than the Company and the Guarantors, (b) the Documents constitute legally valid and binding obligations of the parties thereto other than the Company and the Guarantors, enforceable against each of them in accordance with their terms and (c) the status of the Documents as legally valid and binding obligations of the parties is not affected by any (i) breaches of, or defaults under, agreements or instruments, (ii) violations of statutes, rules, regulations or court or governmental orders or (iii) failures to obtain required consents, approvals or authorizations from, or make required registrations, declarations or filings with, governmental authorities.

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement and to the reference to our firm contained in the Prospectus under the heading “Legal Matters.” In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

June 18, 2018

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Very truly yours,

                   /s/ Latham and Watkins LLP

June 18, 2018

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Exhibit A

Guarantors

1. Kennedy-Wilson Holdings, Inc., a Delaware corporation

2. Kennedy-Wilson Properties, Ltd., a Delaware corporation

3. Kennedy-Wilson Property Services, Inc., a Delaware corporation

4. Kennedy-Wilson Property Services II, Inc., a Delaware corporation

5. Kennedy Wilson Property Services III, L.P., a Delaware limited partnership

6. Kennedy-Wilson Property Equity, Inc., a Delaware corporation

7. Kennedy-Wilson Property Equity II, Inc., a Delaware corporation

8. Kennedy-Wilson Property Special Equity, Inc., a Delaware corporation

9. Kennedy-Wilson Property Special Equity II, Inc., a Delaware corporation

10. Kennedy Wilson Property Special Equity III, LLC, a Delaware limited liability company

11. K-W Properties, a California corporation

12. Kennedy Wilson Property Services III GP, LLC, a Delaware limited liability company

13. KW BASGF II Manager, LLC, a Delaware limited liability company

14. KWF Investors I, LLC, a Delaware limited liability company

15. KWF Investors III, LLC, a Delaware limited liability company

16. KWF Manager I, LLC, a Delaware limited liability company

17. KWF Manager II, LLC, a Delaware limited liability company

18. KWF Manager III, LLC, a Delaware limited liability company

19. Kennedy Wilson Overseas Investments, Inc. a Delaware corporation

20. Fairways 340 Corp., a Delaware corporation

21. KW—Richmond, LLC, a Delaware limited liability company

22. SG KW Venture I Manager LLC, a Delaware limited liability company

23. KW Loan Partners I LLC, a Delaware limited liability company

24. KW Summer House Manager, LLC, a Delaware limited liability company

25. KW Montclair, LLC, a Delaware limited liability company

26. KW Serenade Manager, LLC, a Delaware limited liability company

27. K-W Santiago Inc., a California corporation

28. KW Redmond Manager, LLC, a Delaware limited liability company

29. Dillingham Ranch Aina LLC, a Delaware limited liability company

30. 68-540 Farrington, LLC, a Delaware limited liability company

31. KW Dillingham Aina LLC, a Delaware limited liability company

32. Kennedy Wilson Fund Management Group, LLC, a California limited liability company

33. Kennedy-Wilson International, a California corporation

34. Kennedy-Wilson Tech, Ltd., a California corporation

35. KWP Financial I, a California corporation

36. Kennedy-Wilson Properties, LTD., an Illinois corporation

37. Kennedy Wilson Auction Group Inc., a California corporation

38. KWF Manager IV, LLC, a Delaware limited liability company

39. KW Ireland, LLC, a Delaware limited liability company

40. Kennedy Wilson Property Equity IV, LLC, a Delaware limited liability company

41. Kennedy Wilson Real Estate Sales & Marketing, a California corporation

42. KWF Investors IV, LLC, a Delaware limited liability company

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43. KWF Investors V, LLC, a Delaware limited liability company

44. Meyers Research, LLC, a Delaware limited liability company

45. KW Armacost, LLC, a Delaware limited liability company

46. Santa Maria Land Partners Manager, LLC, a Delaware limited liability company

47. KW Investment Adviser, LLC, a Delaware limited liability company

48. Kennedy-Wilson Capital, a California corporation

49. KW Four Points LLC, a Delaware limited liability company

50. KW Loan Partners VII, LLC, a Delaware limited liability company

51. KWF Investors VII, LLC, a Delaware limited liability company

52. KWF Manager VII, LLC, a Delaware limited liability company

53. KW Residential Capital, LLC, a Delaware limited liability company

54. KW Boise Plaza, LLC, a Delaware limited liability company

55. KW Loan Partners VIII, LLC, a Delaware limited liability company

56. Kennedy Wilson Property Services IV, L.P., a Delaware limited partnership

57. Kennedy Wilson Property Services IV GP, LLC, a Delaware limited liability company

58. KW EU Loan Partners II, LLC, a Delaware limited liability company

59. KW 1200 Main, LLC, a Delaware limited liability company

60. KW Harrington LLC, a Delaware limited liability company

61. KW 5200 Lankershim Manager, LLC, a Delaware limited liability company

62. KWF Manager X, LLC, a Delaware limited liability company

63. KWF Manager XI, LLC, a Delaware limited liability company

64. KWF Manager XII, LLC, a Delaware limited liability company

65. KW Real Estate Venture XIII, LLC, a Delaware limited liability company

66. KWF Manager XIII, LLC, a Delaware limited liability company

67. KW EU Loan Partners III, LLC, a Delaware limited liability company

68. KW EU Investors I, LLC, a Delaware limited liability company

69. KW Richfield Plaza, LLC, a Delaware limited liability company

70. KW Currier Square Shopping Center, LLC, a Delaware limited liability company

71. KW Creekview Shopping Center, LLC, a Delaware limited liability company

72. KW Securities, LLC, a Delaware limited liability company

73. KW Victory Land Loan, LLC, a Delaware limited liability company

74. KW Victory Plaza Loan, LLC, a Delaware limited liability company

75. Country Ridge IX, LLC, a Delaware limited liability company

76. KW EU Investors VIII, LLC, a Delaware limited liability company

77. KW Park Santa Fe, LLC, a Delaware limited liability company

78. KW Cypress, LLC, a Delaware limited liability company

79. KW Tacoma Condos, LLC, a Delaware limited liability company

80. KW Desert Ramrod Sponsor, LLC, a Delaware limited liability company

81. KW 9350 Civic Center Drive, LLC, a Delaware limited liability company

82. KW Taylor Yard 55, LLC, a Delaware limited liability company

83. KW Red Cliff Shopping Center, LLC, a Delaware limited liability company

84. KW Holiday Village Shopping Center, LLC, a Delaware limited liability company

85. KW Hilltop Manager II, LLC, a Delaware limited liability company

86. KW Bozeman Investors, LLC, a Delaware limited liability company

87. KW One Baxter Way GP, LLC, a Delaware limited liability company

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88. KW Riverdale and 36, LLC, a Delaware limited liability company

89. KW 400 California Member, LLC, a Delaware limited liability company

90. KW CIG Management Services, LLC, a Delaware limited liability company

91. KW Terra West Sponsor, LLC, a Delaware limited liability company

92. KW Hanover Quay, LLC, a Delaware limited liability company

93. Kennedy Wilson Property Equity VI, LLC, a Delaware limited liability company

94. Kennedy Wilson Property Services VI, LLC, a Delaware limited liability company

95. KW LV 3 Sponsor, LLC, a Delaware limited liability company

96. KW NB LLC, a Delaware limited liability company

97. KW Camarillo Land, LLC, a Delaware limited liability company