prior to reopening any office , we have strictly followed applicable laws in preparing and maintaining the space to be as safe as possible and providing an environment that encourages the following of social distancing guidelines , including , without limitation , staggering employees ' schedules to ensure ample space is available between work spaces and occupied offices . in jurisdictions where applicable laws have not permitted us to reopen our offices , our employees continue to work remotely . we will continue to monitor and follow local laws and guidance to assess our ability to reopen or keep open our offices across the globe . our it infrastructure and communications are robust and we are focused on maintaining business continuity , while doing our share to support each community where we do business . the daily operations of our business are not materially directly dependent on a supply chain or production chain that may be disrupted due to the pandemic . impact to the global economy and jurisdictions we invest in as a result of the unprecedented measures taken across the globe , the disruption and impact of the covid-19 pandemic to the global economy and financial markets has been significant . we continue to closely monitor changes in applicable laws and covid-19 guidance provided by local , state and federal regulators , or their equivalents , in the jurisdictions in which we operate . nearly all the markets in which we operate continue to enforce some form of restriction on the operations of businesses due to the covid-19 pandemic . these precautions led to the shutdown of nonessential services , which led to closures of stores in our retail portfolio and limited business operations of some of our office tenants . in addition , this caused us to close the shelbourne hotel in dublin , ireland from march 15 , 2020 to june 29 , 2020. on october 21 , 2020 , due to a spike in new cases , ireland implemented new lockdown measures that closed non-essential businesses and limited travel from home to a 33 distance of five kilometers for several weeks . although ireland eased restrictions in december , it has since implemented another national lockdown effective january 1 , 2021 that remains in effect through at least march 5 , 2021. although the shelbourne has remained open since june 30 , 2020 , we have experienced and continue to expect significantly limited activity at the property . additionally , in early january 2021 , the united kingdom also implemented a national lockdown that closes non-essential businesses as cases have continued to rise there as well . the continued and long-lasting economic impact of the covid-19 pandemic may lead to some of our multifamily tenants having difficulty in making rental payments on time , or at all . the department of labor reported that as of the end january 2021 , the unemployment rate was 6.3 % , with 14.8 million people reporting they had been unable to work because their employer closed or lost business due to the pandemic . although the unemployment number has come down from its peak in april and may 2020 , many sectors of the economy still remain at a virtual standstill . the bureau of economic analysis ( `` bea `` ) reported that the u.s. gross domestic product ( `` gdp `` ) shrank 4.8 % in the first quarter 2020 and 34.3 % in the second quarter of 2020. coming off the second quarter 2020 , which was the worst quarter in history for gdp growth , the u.s. economy grew at its fastest pace ever in the third quarter 2020 and continued to grow in the fourth quarter , however we expect continued uncertainty going forward as the covid-19 pandemic continues to effect the global economy . story_separator_special_tag roman ' , sans-serif ; font-size:10pt ; font-weight:400 ; line-height:120 % ; padding-left:14.5pt `` > similar to our multifamily portfolio we are utilizing virtual leasing technology for our commercial portfolio . during year ended december 31 , 2020 , we closed on approximately 227 leasing deals across 2.6 million sq . ft. ◦ in the western united states , we closed 84 leasing deals across 1.1 million sq . ft ◦ in united kingdom and ireland , we closed 143 leasing deals across 1.5 million sq . ft global development and hotel update in our development and redevelopment portfolio we have experienced delays , but we currently do not expect material cost increases as we have fixed-rate construction contracts on projects that are currently under construction and for projects that are in early phases we have not had to halt activities as we are mainly in the pre-construction phase and are able to continue progress on projects . ireland is currently in a nationwide lockdown that started on january 8 , 2021 with an expected reopening date of march 5 , 2021 , which has halted construction during the lockdown . we expect that this will push out our timeline on development projects by four months but we believe that any associated costs can be covered within our existing contingency plans on the assumption that there are no further lockdowns . we have three properties that consist of 0.1 million square feet of office space and 277 market rate multifamily units that should complete construction by the end of 2021. we also have five properties consisting of 0.3 million square feet of commercial space and 576 market rate multifamily units that are unstabilized and undergoing lease up that we expect will be stabilized by the end of 2021. our vhh portfolio also has 932 units that we expect will finish construction or complete lease up by the end of 2021. please refer to development and redevelopment in the liquidity and capital resources section for a more detailed discussion regarding our development initiatives . story_separator_special_tag the gains recognized during the year ended december 31 , 2020 primarily relate to the sale of uk industrial portfolio to the industrial jv , the club palisades multifamily property in the western united states , baggot plaza in dublin , ireland , pioneer point a multifamily property in the united kingdom and certain other non-core assets in europe . included in the gains on sale of real estate , net for december 31 , 2020 is an impairment loss of $ 15.6 million on five retail properties in the united kingdom and a residential property in the western united states . for the year ended december 31 , 2019 , the activity relates to the deconsolidation of the investments that went into the axa joint venture ( as described above ) , the sale of the ritz carlton hotel in lake tahoe and smaller , non-core retail assets in the western united states and non-core commercial properties in the united kingdom . interest expense was $ 211.2 million for the year ended december 31 , 2020 as compared to $ 215.1 million for the year ended december 31 , 2019. the decrease is due to lower consolidated property level debt balances resulting from the sale of assets into the axa joint venture and sales of assets in the current and prior period . these decreases were offset by $ 9.3 million in prepayment penalties associated with the kwe tender offer completed in 2020 , early repayment of mortgages on assets as part of the uk industrial portfolio sale and the refinance of a mortgage on a multifamily property in the western united states . transaction-related expenses were $ 0.9 million for the year ended december 31 , 2020 as compared to $ 6.8 million for the same period in 2019. the decrease is due to expenses incurred in 2019 investigating potential transactions that ultimately were not consummated . we had net income of $ 2.3 million attributable to noncontrolling interests during the year ended december 31 , 2020 compared to net income of $ 94.4 million attributable to noncontrolling interests during the year ended december 31 , 2019. the decrease in income attributable to noncontrolling interest is due to allocation of gains in 2019 associated with the sale of ritz carlton , lake tahoe hotel and the axa joint venture to our equity partners . co-investment portfolio segment investment management on our co-investment portfolio assets , we receive asset management fees for managing assets on behalf of our partners . during the year ended december 31 , 2020 , fees recorded through revenues were $ 22.5 million as compared to $ 24.9 million for the same period in 2019. during the year ended december 31 , 2020 we had higher base management fees as a result of having more assets under management in our co-investment platform mainly from the axa joint venture . however , this was offset by $ 6.4 million of acquisition related fees that we received from equity partners in the prior period with no comparable activity in the current period . these fees are recorded as a component of investment management , property services and research fees . performance fees are recorded as part of income from unconsolidated investments and discussed below . expenses increased to $ 26.9 million for the year ended december 31 , 2020 as compared to $ 20.7 million primarily due to severance costs and costs associated with our fund management business including certain discretionary compensation . co-investment operations in addition to our management of investments in the co-investment portfolio , we have ownership interests in the properties . the table below represents a breakout of the amounts within income from unconsolidated investments which represents our share of underlying property investments in the co-investment portfolio assets and any performance fees relating to our management of these properties for the year ended december 31 , 2020 and the year ended december 31 , 2019 : 43 replace_table_token_17_th our share of jv noi ( rental income net of rental operating expenses ) increased in the current period due to the sale of interests in previously consolidated properties into unconsolidated partnerships resulting in moving the recognition of income from these assets from our consolidated portfolio to our co-investment portfolio as described above . in addition , during the year ended december 31 , 2020 , we received a surrender premium , which is a breakage fee we received from a tenant in the united kingdom related to the early extinguishment of its lease and we experienced an increase in noi in our vhh portfolio . increases in jv noi were offset by an impairment loss recorded in the third quarter of 2020 included in the table above within loss on sale of real estate of $ 6.7 million relating to a property in a retail portfolio in the united kingdom that was subsequently sold during the year . we had an additional impairment loss of $ 4.2 million in the fourth quarter 2020 on this portfolio that brought the carrying value of this joint venture to zero . during the year ended december 31 , 2019 , we had gains on sale of real estate of $ 53.5 million primarily relating to the sale of two multifamily properties in the western united states which was offset by an impairment of $ 10.3 million on a residential development in the western united states that was subsequently sold in the first quarter of 2020. during the year ended december 31 , 2020 we had fair value gains on vhh primarily relating to conversions of development projects to operating properties as construction work was completed and lease up of the properties commenced . we also had fair value gains associated with the completion of clancy quay phase 3 which is currently undergoing lease up and net foreign exchange gains relating to the strengthening of the euro against the u.s. dollar on our euro denominated fair value investments

liquidity kennedy wilson has a strong financial and capital position to withstand the potential near-term cash flow impact caused by the covid-19 pandemic . as of december 31 , 2020 , we had $ 965.1 million ( $ 640.3 million of which is in foreign currencies of gbp or eur ) of cash on our consolidated balance sheet . we also currently have $ 300 million available to draw on our unsecured revolving credit facility . as of december 31 , 2020 , we have 4.1 weighted average years to maturity on our debt obligations . we have limited debt maturities over 2021 , which total $ 123.7 million which are secured by non-recourse property-level financings and represent only 2 % of our total outstanding debt obligations . subsequent to december 31 , 2020 , we also closed the offering of $ 500 million aggregate principal amount of 4.750 % senior notes due 2029 ( the “ 2029 notes ” ) and $ 500 million aggregate principal amount of 5.000 % senior notes due 2031 ( the “ 2031 notes , ” and together with the 2029 notes , the “ notes ” ) . we intend to use the proceeds from the offering of the notes to repurchase ( through a previously announced tender offer ) or redeem $ 1 billion aggregate principal amount of our outstanding 5.875 % senior notes due 2024 ( the “ 2024 notes ” ) . investment portfolio and fourth quarter 2020 and 2021 rent collections as of february 18 , 2021 , we have collected a total of 95 % of our share of rents for the quarter ended december 31 , 2020 from our properties in our global investment portfolio .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity kennedy wilson has a strong financial and capital position to withstand the potential near-term cash flow impact caused by the covid-19 pandemic . as of december 31 , 2020 , we had $ 965.1 million ( $ 640.3 million of which is in foreign currencies of gbp or eur ) of cash on our consolidated balance sheet . we also currently have $ 300 million available to draw on our unsecured revolving credit facility . as of december 31 , 2020 , we have 4.1 weighted average years to maturity on our debt obligations . we have limited debt maturities over 2021 , which total $ 123.7 million which are secured by non-recourse property-level financings and represent only 2 % of our total outstanding debt obligations . subsequent to december 31 , 2020 , we also closed the offering of $ 500 million aggregate principal amount of 4.750 % senior notes due 2029 ( the “ 2029 notes ” ) and $ 500 million aggregate principal amount of 5.000 % senior notes due 2031 ( the “ 2031 notes , ” and together with the 2029 notes , the “ notes ” ) . we intend to use the proceeds from the offering of the notes to repurchase ( through a previously announced tender offer ) or redeem $ 1 billion aggregate principal amount of our outstanding 5.875 % senior notes due 2024 ( the “ 2024 notes ” ) . investment portfolio and fourth quarter 2020 and 2021 rent collections as of february 18 , 2021 , we have collected a total of 95 % of our share of rents for the quarter ended december 31 , 2020 from our properties in our global investment portfolio .
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 Suspicious Activity Report : prior to reopening any office , we have strictly followed applicable laws in preparing and maintaining the space to be as safe as possible and providing an environment that encourages the following of social distancing guidelines , including , without limitation , staggering employees ' schedules to ensure ample space is available between work spaces and occupied offices . in jurisdictions where applicable laws have not permitted us to reopen our offices , our employees continue to work remotely . we will continue to monitor and follow local laws and guidance to assess our ability to reopen or keep open our offices across the globe . our it infrastructure and communications are robust and we are focused on maintaining business continuity , while doing our share to support each community where we do business . the daily operations of our business are not materially directly dependent on a supply chain or production chain that may be disrupted due to the pandemic . impact to the global economy and jurisdictions we invest in as a result of the unprecedented measures taken across the globe , the disruption and impact of the covid-19 pandemic to the global economy and financial markets has been significant . we continue to closely monitor changes in applicable laws and covid-19 guidance provided by local , state and federal regulators , or their equivalents , in the jurisdictions in which we operate . nearly all the markets in which we operate continue to enforce some form of restriction on the operations of businesses due to the covid-19 pandemic . these precautions led to the shutdown of nonessential services , which led to closures of stores in our retail portfolio and limited business operations of some of our office tenants . in addition , this caused us to close the shelbourne hotel in dublin , ireland from march 15 , 2020 to june 29 , 2020. on october 21 , 2020 , due to a spike in new cases , ireland implemented new lockdown measures that closed non-essential businesses and limited travel from home to a 33 distance of five kilometers for several weeks . although ireland eased restrictions in december , it has since implemented another national lockdown effective january 1 , 2021 that remains in effect through at least march 5 , 2021. although the shelbourne has remained open since june 30 , 2020 , we have experienced and continue to expect significantly limited activity at the property . additionally , in early january 2021 , the united kingdom also implemented a national lockdown that closes non-essential businesses as cases have continued to rise there as well . the continued and long-lasting economic impact of the covid-19 pandemic may lead to some of our multifamily tenants having difficulty in making rental payments on time , or at all . the department of labor reported that as of the end january 2021 , the unemployment rate was 6.3 % , with 14.8 million people reporting they had been unable to work because their employer closed or lost business due to the pandemic . although the unemployment number has come down from its peak in april and may 2020 , many sectors of the economy still remain at a virtual standstill . the bureau of economic analysis ( `` bea `` ) reported that the u.s. gross domestic product ( `` gdp `` ) shrank 4.8 % in the first quarter 2020 and 34.3 % in the second quarter of 2020. coming off the second quarter 2020 , which was the worst quarter in history for gdp growth , the u.s. economy grew at its fastest pace ever in the third quarter 2020 and continued to grow in the fourth quarter , however we expect continued uncertainty going forward as the covid-19 pandemic continues to effect the global economy . story_separator_special_tag roman ' , sans-serif ; font-size:10pt ; font-weight:400 ; line-height:120 % ; padding-left:14.5pt `` > similar to our multifamily portfolio we are utilizing virtual leasing technology for our commercial portfolio . during year ended december 31 , 2020 , we closed on approximately 227 leasing deals across 2.6 million sq . ft. ◦ in the western united states , we closed 84 leasing deals across 1.1 million sq . ft ◦ in united kingdom and ireland , we closed 143 leasing deals across 1.5 million sq . ft global development and hotel update in our development and redevelopment portfolio we have experienced delays , but we currently do not expect material cost increases as we have fixed-rate construction contracts on projects that are currently under construction and for projects that are in early phases we have not had to halt activities as we are mainly in the pre-construction phase and are able to continue progress on projects . ireland is currently in a nationwide lockdown that started on january 8 , 2021 with an expected reopening date of march 5 , 2021 , which has halted construction during the lockdown . we expect that this will push out our timeline on development projects by four months but we believe that any associated costs can be covered within our existing contingency plans on the assumption that there are no further lockdowns . we have three properties that consist of 0.1 million square feet of office space and 277 market rate multifamily units that should complete construction by the end of 2021. we also have five properties consisting of 0.3 million square feet of commercial space and 576 market rate multifamily units that are unstabilized and undergoing lease up that we expect will be stabilized by the end of 2021. our vhh portfolio also has 932 units that we expect will finish construction or complete lease up by the end of 2021. please refer to development and redevelopment in the liquidity and capital resources section for a more detailed discussion regarding our development initiatives . story_separator_special_tag the gains recognized during the year ended december 31 , 2020 primarily relate to the sale of uk industrial portfolio to the industrial jv , the club palisades multifamily property in the western united states , baggot plaza in dublin , ireland , pioneer point a multifamily property in the united kingdom and certain other non-core assets in europe . included in the gains on sale of real estate , net for december 31 , 2020 is an impairment loss of $ 15.6 million on five retail properties in the united kingdom and a residential property in the western united states . for the year ended december 31 , 2019 , the activity relates to the deconsolidation of the investments that went into the axa joint venture ( as described above ) , the sale of the ritz carlton hotel in lake tahoe and smaller , non-core retail assets in the western united states and non-core commercial properties in the united kingdom . interest expense was $ 211.2 million for the year ended december 31 , 2020 as compared to $ 215.1 million for the year ended december 31 , 2019. the decrease is due to lower consolidated property level debt balances resulting from the sale of assets into the axa joint venture and sales of assets in the current and prior period . these decreases were offset by $ 9.3 million in prepayment penalties associated with the kwe tender offer completed in 2020 , early repayment of mortgages on assets as part of the uk industrial portfolio sale and the refinance of a mortgage on a multifamily property in the western united states . transaction-related expenses were $ 0.9 million for the year ended december 31 , 2020 as compared to $ 6.8 million for the same period in 2019. the decrease is due to expenses incurred in 2019 investigating potential transactions that ultimately were not consummated . we had net income of $ 2.3 million attributable to noncontrolling interests during the year ended december 31 , 2020 compared to net income of $ 94.4 million attributable to noncontrolling interests during the year ended december 31 , 2019. the decrease in income attributable to noncontrolling interest is due to allocation of gains in 2019 associated with the sale of ritz carlton , lake tahoe hotel and the axa joint venture to our equity partners . co-investment portfolio segment investment management on our co-investment portfolio assets , we receive asset management fees for managing assets on behalf of our partners . during the year ended december 31 , 2020 , fees recorded through revenues were $ 22.5 million as compared to $ 24.9 million for the same period in 2019. during the year ended december 31 , 2020 we had higher base management fees as a result of having more assets under management in our co-investment platform mainly from the axa joint venture . however , this was offset by $ 6.4 million of acquisition related fees that we received from equity partners in the prior period with no comparable activity in the current period . these fees are recorded as a component of investment management , property services and research fees . performance fees are recorded as part of income from unconsolidated investments and discussed below . expenses increased to $ 26.9 million for the year ended december 31 , 2020 as compared to $ 20.7 million primarily due to severance costs and costs associated with our fund management business including certain discretionary compensation . co-investment operations in addition to our management of investments in the co-investment portfolio , we have ownership interests in the properties . the table below represents a breakout of the amounts within income from unconsolidated investments which represents our share of underlying property investments in the co-investment portfolio assets and any performance fees relating to our management of these properties for the year ended december 31 , 2020 and the year ended december 31 , 2019 : 43 replace_table_token_17_th our share of jv noi ( rental income net of rental operating expenses ) increased in the current period due to the sale of interests in previously consolidated properties into unconsolidated partnerships resulting in moving the recognition of income from these assets from our consolidated portfolio to our co-investment portfolio as described above . in addition , during the year ended december 31 , 2020 , we received a surrender premium , which is a breakage fee we received from a tenant in the united kingdom related to the early extinguishment of its lease and we experienced an increase in noi in our vhh portfolio . increases in jv noi were offset by an impairment loss recorded in the third quarter of 2020 included in the table above within loss on sale of real estate of $ 6.7 million relating to a property in a retail portfolio in the united kingdom that was subsequently sold during the year . we had an additional impairment loss of $ 4.2 million in the fourth quarter 2020 on this portfolio that brought the carrying value of this joint venture to zero . during the year ended december 31 , 2019 , we had gains on sale of real estate of $ 53.5 million primarily relating to the sale of two multifamily properties in the western united states which was offset by an impairment of $ 10.3 million on a residential development in the western united states that was subsequently sold in the first quarter of 2020. during the year ended december 31 , 2020 we had fair value gains on vhh primarily relating to conversions of development projects to operating properties as construction work was completed and lease up of the properties commenced . we also had fair value gains associated with the completion of clancy quay phase 3 which is currently undergoing lease up and net foreign exchange gains relating to the strengthening of the euro against the u.s. dollar on our euro denominated fair value investments

