Real estate investment firm Kennedy Wilson reported a fourth quarter loss of $9.1 million due to costs related to a spate of mergers and acquisitions.

The loss of 34 cents per share would have been a net earnings of 23 cents per share if not for the M&A charges, the company stated.

During the fourth quarter, Kennedy Wilson raised $110 million through a reverse merger with Prospect Acquisition Corp., bought a $342 million non-performing commercial loan portfolio and formed a $108 million joint venture to purchase distressed condominium projects.

“We were able to raise significant capital through our merger with Prospect and now we’re in a position to focus on acquisitions and take advantage of the opportunities in the current economy,” Chief Executive William J. McMorrow said in a statement. “Since November, we have already completed several key investments and have a strong pipeline of additional deal flow teed up for 2010.”

In mid-day trading shares of Kennedy Wilson gained 1 cent to trade at $10 per share.