Kennedy-Wilson Holdings, Inc. reported its financial results for the second quarter and first half of 2025, revealing a net loss attributable to common shareholders of $6.4 million for the three months ended June 30, 2025, a significant improvement from a loss of $59.1 million in the same period of 2024. For the six months ended June 30, 2025, the company recorded a net loss of $47.2 million, compared to a loss of $32.2 million in the prior year. Total revenue for the second quarter was $135.7 million, slightly up from $132.0 million year-over-year, while revenue for the first half of 2025 totaled $264.0 million, down from $268.4 million in 2024.
The company experienced notable changes in its operational metrics, with rental income decreasing to $93.3 million in Q2 2025 from $97.8 million in Q2 2024, primarily due to asset sales and deconsolidations. However, investment management fees increased to $36.4 million in the second quarter, up from $26.1 million in the same period last year, reflecting a 39% growth driven by a one-time development completion fee and higher acquisition fees. The company also reported a gain on the sale of real estate of $55.1 million in Q2 2025, compared to just $0.2 million in Q2 2024.
Kennedy-Wilson's strategic developments included the recapitalization and deconsolidation of a 1,008-unit multifamily property, which reduced its ownership from 100% to 10%. The company also sold non-core office assets in Europe, generating $123.1 million in cash and a gain of $52.4 million. In terms of operational metrics, the company managed $30.1 billion in Real Estate Assets Under Management (AUM) as of June 30, 2025, an increase from $27.1 billion a year earlier. The company’s employee count remained stable at 244.
The filing indicated that the company is navigating a challenging macroeconomic environment characterized by elevated inflation and interest rates, which have impacted its operations and investment strategies. Kennedy-Wilson has focused on expanding its investment management and co-investment platforms, which have shown growth in asset management fees. The company anticipates continued strength in its multifamily portfolio, with same-property revenue growth of 3.0% and same-property net operating income growth of 3.9% for the first half of 2025.
Looking ahead, Kennedy-Wilson remains cautious about market conditions but is optimistic about its strategic initiatives and operational performance. The company plans to continue leveraging its investment management capabilities and exploring new opportunities in high-growth markets across the U.S., U.K., and Ireland.
About Kennedy-Wilson Holdings, Inc.
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