Lendlease and Ivanhoé Cambridge plan to invest an initial $500 million of equity with aspirations to grow the portfolio through additional equity investments over time.
KKR bets big on markets with strong tech employment and population growth, and says it will "more than double" the size of the 5.4-million SF portfolio within three years.
With COVID concerns declining, Pew Research reported fewer people are working from home, but those who do want it to stick because they are more productive, have better work-life balance.
During an afternoon general session at MBA CREF, panelists estimated a 13% increase from 2021's volume of $900 billion and encouraged the audience to "be nimble" going forward.