-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 ELN+z19C96XFdZoEg8fGqMeNIXzC6HdDVLn7EauFDEmdXxL29tB4FrlRQUGKUoNb
 vybOCtD6dRn3+UcrWB97Nw==

<SEC-DOCUMENT>0001458926-10-000007.txt : 20100309
<SEC-HEADER>0001458926-10-000007.hdr.sgml : 20100309
<ACCEPTANCE-DATETIME>20100309155748
ACCESSION NUMBER:		0001458926-10-000007
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(1)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100309
DATE AS OF CHANGE:		20100309
EFFECTIVENESS DATE:		20100309

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KW PROPERTY FUND III (QP-A), L.P.
		CENTRAL INDEX KEY:			0001458926
		IRS NUMBER:				264197757
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-128209
		FILM NUMBER:		10667125

	BUSINESS ADDRESS:	
		STREET 1:		9701 WILSHIRE BLVD., SUITE 700
		CITY:			BEVERLY HILLS
		STATE:			CA
		ZIP:			90212
		BUSINESS PHONE:		310-887-6400

	MAIL ADDRESS:	
		STREET 1:		9701 WILSHIRE BLVD., SUITE 700
		CITY:			BEVERLY HILLS
		STATE:			CA
		ZIP:			90212

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KW PROPERTY FUND III (QP-A) LP
		DATE OF NAME CHANGE:	20090318
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001458926</cik>
        <entityName>KW PROPERTY FUND III (QP-A), L.P.</entityName>
        <issuerAddress>
            <street1>9701 Wilshire Blvd., Suite 700</street1>
            <city>Beverly Hills</city>
            <stateOrCountry>CA</stateOrCountry>
            <zipCode>90212</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>310-887-6400</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>KW PROPERTY FUND III (QP-A) LP</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>J.</middleName>
                <lastName>McMorrow</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Kennedy Wilson Property Services III</street1>
                <street2>9701 Wilshire Blvd, Suite 700</street2>
                <city>Beverly Hills</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90212</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Barry</firstName>
                <lastName>Schlesinger</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Kennedy Wilson Property Services III</street1>
                <street2>9701 Wilshire Blvd, Suite 700</street2>
                <city>Beverly Hills</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90212</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mary</firstName>
                <lastName>Ricks</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Kennedy Wilson Property Services III</street1>
                <street2>9701 Wilshire Blvd, Suite 700</street2>
                <city>Beverly Hills</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90212</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Freeman</firstName>
                <middleName>A.</middleName>
                <lastName>Lyle</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Kennedy Wilson Property Services III</street1>
                <street2>9701 Wilshire Blvd, Suite 700</street2>
                <city>Beverly Hills</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90212</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>E.</middleName>
                <lastName>Hart</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Kennedy Wilson Property Services III</street1>
                <street2>9701 Wilshire Blvd, Suite 700</street2>
                <city>Beverly Hills</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90212</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Don</firstName>
                <lastName>Herrema</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Kennedy Wilson Property Services III</street1>
                <street2>9701 Wilshire Blvd, Suite 700</street2>
                <city>Beverly Hills</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90212</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Donald</firstName>
                <middleName>M.</middleName>
                <lastName>Bethe</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Kennedy Wilson Property Services III</street1>
                <street2>9701 Wilshire Blvd, Suite 700</street2>
                <city>Beverly Hills</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90212</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Matt</firstName>
                <lastName>Windisch</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Kennedy Wilson Property Services III</street1>
                <street2>9701 Wilshire Blvd, Suite 700</street2>
                <city>Beverly Hills</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90212</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>C.</middleName>
                <lastName>Prabhu</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Kennedy Wilson Property Services III</street1>
                <street2>9701 Wilshire Blvd, Suite 700</street2>
                <city>Beverly Hills</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90212</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.1</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-09-009167</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-03-16</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Guggenheim Capital Markets LLC</recipientName>
                <recipientCRDNumber>40638</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>135 East 57th Street</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10022</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>1220000000</totalOfferingAmount>
            <totalAmountSold>10000000</totalAmountSold>
            <totalRemaining>1210000000</totalRemaining>
            <clarificationOfResponse>The General Partner reserves the right to increase this amount.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>3</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>10000000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>An affiliate of the general partner is entitled to a performance allocation. The investment manager is entitled to a management fee. The performance allocation and managemt fee are fully discussed in the issuer's confidential private placement memorandum.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>KW PROPERTY FUND III (QP-A), L.P.</issuerName>
                <signatureName>John C. Prabhu</signatureName>
                <nameOfSigner>John C. Prabhu</nameOfSigner>
                <signatureTitle>Vice Pres. of General Partner of General Partner of Issuer</signatureTitle>
                <signatureDate>2010-03-08</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----