NEW YORK – (BUSINESS WIRE) – KKR, a leading global investment firm, today announced the acquisition of The District at Scottsdale, a Class A residential building of 332 units. The District in Scottsdale was built in 2019 and is located in the heart of Scottsdale’s premier lifestyle hub, adjacent to the dining, shopping and entertainment of the Scottsdale Quarter and Kierland Commons. RPM Living will continue to manage the property. The acquisition increases KKR’s residential real estate presence in the greater Phoenix area to more than 2,600 units and is valued at approximately $ 650 million. Including The District at Scottsdale, KKR has approximately $ 1.2 billion in the past 10 months. “The District at Scottsdale is well positioned with a great location and world-class amenities and supports the continued growth of Phoenix as a premier destination to live and work in,” said Michael Friedland, Managing Director at KKR. “We are pleased to be deepening our commitment to the Phoenix market by including this trophy asset in our core plus real estate portfolio.” Since the introduction of a dedicated real estate platform in 2011, KKR has had its managed real estate assets as of March 31, 2021 increased approximately $ 28 billion in the US, Europe and the Asia-Pacific region. KKR’s global real estate team consists of over 110 dedicated investment professionals, spanning both equity and credit businesses, in eleven offices in eight countries. About KKR KKR is a leading global investment company providing alternative asset management, capital markets and insurance solutions. KKR aims to generate attractive investment returns by adopting a patient and disciplined investment approach, employing world class people, and supporting the growth of its portfolio companies and communities. KKR sponsors mutual funds that invest in private equity, credit and real assets, and has strategic partners who manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the leadership of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
[ad_2]
