The apartments feature 204 units.

They are located across six Sunbelt states.

The fund is targeting $300 million total.

It comes with a caveat for developers though.

The move aims to boost real estate management operations.

The move comes weeks after it was reported it would seek another office conversion in the city for 600 apartment units.

In 2024, KKR has acquired almost eight million square feet of new industrial space.

This marks Cresa's seventh M&A deal in the past couple of years.