KKR has formed a new platform with a plan to invest in a diversified portfolio of triple-net lease real estate assets worth over $3bn (€2.5bn).
The global investment firm said its investment – primarily from its credit and real estate funds – will position the newly launched Strategic Lease Partners (SLP) platform to acquire the assets.
KKR said Investors Andrés Dallal and Joseph Mastrocola will join SLP as partners, working with KKR’s real estate, credit and capital markets teams to acquire triple-net lease properties and deliver sale-leaseback solutions to corporate tenants.
Prior to joining SLP, Dallal and Mastrocola were executive directors at WP Carey, where they were responsible for sourcing, evaluating, negotiating and structuring net lease investments in North America.
“We believe there is an attractive opportunity to acquire NNN assets and be a real estate partner of choice for companies in need of comprehensive, creative net lease solutions.
“By leveraging KKR’s broad-based real estate, credit and capital markets capabilities and resources – and the deep connectivity between them – SLP can be a differentiated partner for corporate tenants,” said Billy Butcher and Jenny Box, partners at KKR.
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