Jeff Specter's questions to Kennedy-Wilson Holdings Inc (KW) leadership • Q4 2024
Question
Jeff Specter asked about global institutional interest in U.S. real estate, the strategy for exiting office and retail assets, and the apartment supply outlook in Sunbelt markets like Texas and Arizona.
Answer
CEO William J. McMorrow confirmed very strong institutional interest in U.S. real estate, particularly from Asia, and noted the credit business is creating new equity opportunities in the Sunbelt. President Matthew Windisch clarified that while balance sheet capital won't go to office/retail, the investment management platform might pursue opportunistic deals. He also noted that new construction starts remain low, suggesting a significant ramp-down in supply deliveries in about 18 months.