RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2013

The firm of Solomon, Winnett & Rosenfield was paid $0.2 million annually for income tax services provided by the firm during the years ended December 31, 2013, 2012, and 2011. Jerry Solomon is a partner in the firm and a member of Kennedy Wilson’s Board of Directors. For the years ended December 31, 2013, 2012, and 2011, Mr. Solomon was paid an immaterial amount of director’s fees.

The Company has a lease with an affiliate of a third-party shareholder for its corporate offices in Beverly Hills, California. As of December 31, 2013, the future minimum lease payments under this agreement is $1.4 million for 2014.

Rental expense under this arrangement totaled $1.3 million and $1.3 million for the years ended December 31, 2013 and 2012, respectively.

The Company received fees and other income from affiliates and entities in which the Company holds ownership interests in the following amounts:



	Year ended December 31,
(Dollars in millions)	2013		2012		2011
Property management and leasing fees	$	36.0	$	24.5	$	14.5
Commissions	10.0		8.0		24.2
Total related party revenue	$	46.0	$	32.5	$	38.7

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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