KKR Real Estate Select Trust (KREST) has acquired a portfolio of core medical office buildings and ambulatory surgery centers located in seven Sun Belt states.
The portfolio was assembled by Montecito Medical, a player in the medical office space, and FCA Partners, a real estate investment management company. The transaction will recapitalize the portfolio with Montecito Medical retaining its interest and operational responsibility for the properties.
The purchase marks KREST's first acquisition of core healthcare real estate assets, further diversifying the fund's portfolio following its recent first-time multifamily property investment, as well as its first international property acquisition.
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