Jonna Galen's questions to Kennedy-Wilson Holdings Inc (KW) leadership • Q1 2025
Question
Jonna Galen of Bank of America asked for more details on the planned $150 million to $200 million in Q2 asset dispositions, including timing, potential cap rates, and whether the company is actively marketing assets beyond its initial $400 million annual target.
Answer
CEO William J. McMorrow stated that the Q2 dispositions are well advanced and expected to close in late June but declined to comment on cap rates until the transactions are complete. He highlighted strong global capital demand for multifamily assets. President Matt Windisch added that a portion of the dispositions are European assets, where a more favorable interest rate environment could result in attractive cap rates, referencing the recent successful 4.1% refinancing of their Irish apartment portfolio.