Kennedy-Wilson Holdings, Inc. reported a GAAP net loss attributable to common shareholders of $40.8 million for the first quarter of 2025, compared to net income of $26.9 million in Q1 2024. Adjusted EBITDA for the quarter was $98.2 million, down from $203.2 million in the prior year.
Despite the net loss, the company saw strong demand for its rental housing properties, leading to a 4.3% same-property multifamily net operating income growth. Investment management fees grew by 17% to $25.0 million in Q1 2025.
Kennedy Wilson deployed or committed approximately $1 billion of capital in Q1 and completed or is in the process of closing $2.4 billion in new construction loan originations. The company expects to generate over $400 million in proceeds from non-core asset sales during the remainder of 2025, with proceeds allocated to debt reduction and investment management growth.
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