Mortgage Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Mortgage Debt

The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of June 30, 2024 and December 31, 2023:

(Dollars in millions)		Carrying amount of mortgage debt as of (1)
Mortgage Debt by Product Type	Region	June 30, 2024		December 31, 2023
Multifamily(1)	Western U.S.	$	1,768.6	$	1,711.0
Commercial(1)	United Kingdom	442.3		509.9
Commercial(1)	Ireland	322.4		337.8
Commercial	Western U.S.	198.8		258.2
Commercial	Spain	36.4		37.7
Mortgage debt (excluding loan fees)(1)		2,768.5		2,854.6
Unamortized loan fees		(12.2)		(13.7)
Total Mortgage Debt		$	2,756.3	$	2,840.9

(1) The mortgage debt balances include unamortized debt discount. Debt discount represents the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized as an increase of interest expense for discounts and a reduction of interest expense for premiums over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized loan discount as of June 30, 2024 and December 31, 2023 was $1.3 million and $1.0 million, respectively.

Schedule of Aggregate Maturities of Mortgage Loans

The aggregate maturities of mortgage loans as of June 30, 2024 including amortization and the effects of any extension options. In certain cases, extension options will only be granted after meeting certain lender loan covenants.

(Dollars in millions)	Aggregate Maturities
2024 (remainder)(1)	$	58.7
2025	172.0
2026	656.5
2027	347.5
2028	339.7
Thereafter	1,195.4
	2,769.8
Unamortized debt discount	(1.3)
Unamortized loan fees	(12.2)
Total Mortgage Debt	$	2,756.3

(1) The Company is actively negotiating loan extensions and refinances with lenders on these loans.