KKR Real Estate Select Trust Inc. has completed the purchase of a portfolio of 39 newly built multifamily properties in Tokyo.
The portfolio was delivered in 2022 by a Japanese developer. The properties were master-leased to a Japanese residential property manager with a contractual 100% occupancy rate. The 39 newly built multifamily properties feature modern designs and are situated in 15 popular residential submarkets with convenient access to local train stations and Tokyo's large transportation hubs.
The investment is part of KREST's stabilized real estate investment strategy – one of the Fund's three primary strategies – which focuses on thematically driven, income-generating real estate. KREST's other focus areas include prime single tenant real estate and private real estate debt.
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