Anthony Paolone

Omotayo Okusanya

Jana Galan

Jeff Specter

Jonna Galen

- **Kennedy Wilson** has agreed to acquire **Toll Brothers' Apartment Living platform** for a total purchase price of **$347 million**.  **[1408100_0001408100-25-000161_kw-20250918.htm:1]** **[1408100_0001408100-25-000161_kennedywilsonandtollbrothe.htm:1]** 
- The transaction is expected to close in the **fourth quarter of 2025**  **[1408100_0001408100-25-000161_kw-20250918.htm:1]**  or **October 2025**  **[1408100_0001408100-25-000161_kennedywilsonandtollbrothe.htm:1]** , with Kennedy Wilson's initial investment projected to be approximately **$90 million**.  **[1408100_0001408100-25-000161_kw-20250918.htm:1]** **[1408100_0001408100-25-000161_kennedywilsonandtollbrothe.htm:1]** 
- This acquisition will add over **$5 billion of assets under management** for Kennedy Wilson, comprising **$2.2 billion of AUM** from **18 acquired properties** and **$3.0 billion of AUM** from **20 properties** that Kennedy Wilson will manage on behalf of Toll Brothers.  **[1408100_0001408100-25-000161_kennedywilsonandtollbrothe.htm:1]** 
- The deal includes the acquisition of Toll Brothers' ownership interests and contractual arrangements in **18 properties** (17 multifamily and one student housing) and a pipeline of **29 development sites**.  **[1408100_0001408100-25-000161_kw-20250918.htm:1]** **[1408100_0001408100-25-000161_kennedywilsonandtollbrothe.htm:1]** 
- Kennedy Wilson will also integrate the **Toll Brothers Apartment Living management team** and establish a strategic alliance with Toll Brothers for future investment opportunities.  **[1408100_0001408100-25-000161_kennedywilsonandtollbrothe.htm:1]** **[1408100_0001408100-25-000161_kw-20250918.htm:2]**

Kennedy-Wilson Holdings (KW)