Global investment giant KKR is banking that its success leasing office buildings to single-tenant tech players can be replicated nationwide, with a focus on acquiring suburban buildings in markets with strong tech employment and population growth.
KKR, which just closed on a $1.7-billion refinance of 45 office buildings held by investment partner Drawbridge Realty, said the recapitalization will fund a new venture with Drawbridge aiming to rapidly expand the portfolio across the US.
"Drawbridge is positioned to accelerate its investments in high-quality, innovation-focused, net-leased office properties in growth markets nationwide with a goal to more than double the size of its portfolio over the next two to three years," KKR and Drawbridge said in a joint statement.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
