{"id":785387,"date":"2022-05-10T20:03:22","date_gmt":"2022-05-10T18:03:22","guid":{"rendered":"https:\/\/bebeez.it\/non-categorizzato\/krest-completes-four-new-investments-adding-234m-of-diversified-real-estate-debt-exposure\/"},"modified":"2023-07-10T20:00:22","modified_gmt":"2023-07-10T18:00:22","slug":"krest-completes-four-new-investments-adding-234m-of-diversified-real-estate-debt-exposure-2","status":"publish","type":"post","link":"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/krest-completes-four-new-investments-adding-234m-of-diversified-real-estate-debt-exposure-2\/","title":{"rendered":"KREST Completes Four New Investments Adding $234M of Diversified Real Estate Debt Exposure"},"content":{"rendered":"

NEW YORK–(BUSINESS WIRE)–$KREST<\/a> #KKRRealEstate<\/a>–KKR, a leading global investment firm, today announced that KKR Real Estate Select Trust Inc. (\u201cKREST\u201d or the \u201cFund\u201d) has completed four real estate debt investments with a combined value of $234 million. The transactions grow the Fund\u2019s portfolio allocation to income-focused real estate debt investments to approximately 28 percent as of March 31, 2022. The new debt investments are estimated to have a weighted average yield in the first year of ownership of approximately 8.6 percent.\n<\/p>\n

<\/a><\/p>\n

\nThe debt investments are primarily floating rate and backed by diversified high quality, stabilized commercial real estate. Underlying exposures include: The Old Post Office, a newly redeveloped landmark commercial office building in Chicago; the American Copper Buildings, a pair of luxury multifamily towers in New York City; and two large select service U.S. hotel portfolios with high quality sponsorship.\n<\/p>\n

\n\u201cWe are pleased to grow KREST\u2019s exposure to real estate debt with four new investments that are representative of KKR\u2019s strategy of investing in loans backed by high quality real estate owned by institutional sponsors and aligned with our long-term thematic convictions,\u201d said Matt Salem, KKR Partner and Head of Real Estate Credit. \u201cWe believe that Class A office space, lifestyle-oriented multifamily and room-only lodging catering to domestic travel are attractive and resilient categories positioned to benefit from long-term tailwinds.\u201d\n<\/p>\n

\nThe Old Post Office is a well leased, 2.3 million square-foot, LEED Gold-certified office property designated as a Chicago historical landmark that completed a major redevelopment in 2021. American Copper Buildings are highly amenitized, Class A multifamily towers connected by a three-story sky bridge and private outdoor space, which finished construction in 2018.\n<\/p>\n

\n\u201cThese investments demonstrate how KREST\u2019s flexibility to invest across three distinct strategies enables us to pursue attractive opportunities that generate strong relative risk-adjusted returns in a range of market environments,\u201d said Billy Butcher, Chief Executive Officer of KREST and Chief Operating Officer of KKR Global Real Estate. \u201cAmid the current market volatility, we are able to leverage KKR\u2019s real estate debt capabilities to increase KREST\u2019s exposure to more senior positions in the capital structure in high quality assets that have downside protection, have an attractive current yield and are positioned to benefit from rising rates because of floating rate coupons.\u201d\n<\/p>\n

\nReal estate debt is one of KREST\u2019s three primary investment strategies, alongside equity investments in stabilized real estate and prime single tenant properties. KREST targets private debt opportunities including real estate loans, preferred equity and commercial mortgage backed securities (\u201cCMBS\u201d) with a focus on attractive yield supported by underlying properties with consistent and defensive cash flow.\n<\/p>\n

\nKKR\u2019s real estate credit business manages strategies across senior loans, mezzanine debt and CMBS. KKR\u2019s global real estate franchise owns or lends on over $172 billion of real estate assets as of March 31, 2022.\n<\/p>\n

\nAbout KREST
\n
KKR Real Estate Select Trust Inc. (“KREST”) is a continuously offered, registered closed-end fund that thematically invests in high quality, stabilized, income-oriented commercial real estate equity and debt. The fund is open to all investors with daily subscriptions and its primary investment objective is to provide attractive current income, with a secondary objective of long-term capital appreciation. KREST is managed by KKR Registered Advisor LLC, an affiliate of KKR & Co. Inc., and utilizes the experience and reach of KKR’s global real estate team and the resources available through the KKR platform. For additional information about KREST, please visit its website at www.krest.reit<\/a>.\n<\/p>\n

\nAbout KKR
\n
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR\u2019s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR\u2019s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR\u2019s website at www.kkr.com<\/a> and on Twitter @KKR_Co.\n<\/p>\n

Contacts <\/p>\n

\nMedia:
Miles Radcliffe-Trenner
\n
+1 212-750-8300
\n
media@kkr.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

NEW YORK–(BUSINESS WIRE)–$KREST #KKRRealEstate–KKR, a leading global investment firm, today announced that KKR Real Estate Select Trust Inc. (\u201cKREST\u201d or the \u201cFund\u201d) has completed four real estate debt investments with a combined value of $234 million. The transactions grow the Fund\u2019s portfolio allocation to income-focused real estate debt investments to approximately 28 percent as of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[49630],"tags":[],"settori":[],"slider_categorie_and_home_page":[],"class_list":["post-785387","post","type-post","status-publish","format-standard","hentry","category-real-estate-in-asia-pacific"],"acf":[],"yoast_head":"\nKREST Completes Four New Investments Adding $234M of Diversified Real Estate Debt Exposure - BeBeez<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bebeez.it\/en\/real-estate-in-asia-pacific\/krest-completes-four-new-investments-adding-234m-of-diversified-real-estate-debt-exposure-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KREST Completes Four New Investments Adding $234M of Diversified Real Estate Debt Exposure - BeBeez\" \/>\n<meta property=\"og:description\" content=\"NEW YORK–(BUSINESS WIRE)–$KREST #KKRRealEstate–KKR, a leading global investment firm, today announced that KKR Real Estate Select Trust Inc. 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