KKR plans $3B triple-net-lease portfolio

Global investment firm launching Strategic Lease Partners platform

National /
Aug.August 27, 2021 05:04 PM
KKR plans $3B triple-net-lease portfolio

KKR Co-Chair Henry Kravis (Wikipedia)

Global investment firm KKR is diving deeper into real estate, launching a platform designed for triple-net lease investments.

The company announced the formation of Strategic Lease Partners this week. KKR has plans for a portfolio that will exceed $3 billion with diversified assets, according to Commercial Property Executive.

The platform intends to rely on KKR’s credit and real estate funds. In a statement from company partners, KKR singled out SLP as a potential partner for corporate tenants.

Former W.P. Carey executives Andrés Dallal and Joseph Mastrocola will serve as partners for SLP. The platform will soon begin to acquire assets and arrange solutions for sale leasebacks. KKR didn’t specify a property type that SLP will hunt.

A triple-net lease is an agreement where the tenant promises to pay for expenses such as maintenance, which would typically be the landlord’s responsibility, in addition to rent and utilities. In exchange, the rent on the properties is less than it would be in a conventional lease.

KKR has been busy in real estate recently. Last week it sold a $2 billion industrial portfolio to Oxford Properties. Earlier in the month, the company teamed up with Dalan Management to buy a multifamily portfolio in Brooklyn  from Bruman Realty at a contract price of $860 million.

[CPE] — Holden Walter-Warner





    Related Articles

    arrow_forward_ios
    EverWest acquired a Maspeth warehouse from Wharton for $57M
    EverWest acquired a Maspeth warehouse from Wharton for $57M
    EverWest acquired a Maspeth warehouse from Wharton for $57M
    Google CEO Sundar Pichai (Getty/Illustration by Kevin Rebong for The Real Deal)
    Google says it won’t claim NYC tax breaks
    Google says it won’t claim NYC tax breaks
    Housing Court is back and order shall rule: Scheduled first appearances and capacity limits will accompany in-person hearings when they resume mid-October. (iStock)
    Housing court is back — with boundaries
    Housing court is back — with boundaries
    Covid surge dims enthusiasm for ICSC Vegas conference
    Covid surge dims enthusiasm for ICSC Vegas conference
    Covid surge dims enthusiasm for ICSC Vegas conference
    Bronx Section 8 housing, West Village dorm top mid-market sales
    Bronx Section 8 housing, West Village dorm top mid-market sales
    Bronx Section 8 housing, West Village dorm top mid-market sales
    Gravity CEO Moshe Cohen and Related CEO Jeff Blau (Getty, Gravity)
    Related partners with electric vehicle startup to bring charging stations to NYC
    Related partners with electric vehicle startup to bring charging stations to NYC
    (Adam Popper via LinkedIn)
    Adam Popper joins Thor Equities as VP of acquisitions
    Adam Popper joins Thor Equities as VP of acquisitions
    A rendering of St. John's Terminal with Google CEO Sundar Pichai (COOKFOX Architects, Getty)
    Google shatters pandemic record in $2.1B office purchase
    Google shatters pandemic record in $2.1B office purchase
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...