Kennedy Wilson Holdings Inc., a Delaware corporation, has made significant strides in its strategic asset recycling plan with the completion of a recapitalization transaction on May 13, 2025. The transaction involved a hotel property owned through a joint venture, resulting in Kennedy Wilson receiving $125 million in cash. The company's ownership interests in the joint venture have been reduced from 50% to 35%. The joint venture secured an increase in the loan amount under its existing mortgage by an additional $150 million, which includes a $25 million reserve. The proceeds are set to aid in reducing Kennedy Wilson's unsecured debt, including the repayment of Kennedy Wilson Europe Unsecured Notes due in November 2025 and payments on its corporate line of credit. The company anticipates generating over $400 million from the asset recycling plan throughout 2025, although the completion of these sales and recapitalizations cannot be assured.
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