NEW YORK – (BUSINESS WIRE) – Dec. July 2021 – 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 acquired approximately $ 1.2 billion in Class A homes in the past 10 months for its core plus real estate strategy, with a focus on dynamic, high growth markets in the United States with a great location and world-class amenities that support Phoenix’s continued growth as a premier destination to live and work in, ”said Michael Friedland, Managing Director at KKR. “We are excited to deepen our commitment to the Phoenix market by adding this trophy asset to our Core Plus real estate portfolio.” Since launching a dedicated real estate platform in 2011, KKR has had real estate assets under management of approximately $ 28 increased in the United States, Europe, and Asia Pacific as of March 31, 2021. KKR’s global real estate team consists of over 110 dedicated investment professionals spanning both equity and credit businesses in 11 offices and eight countries. About KKRKKR is a leading global investment firm 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 Twitter @ KKR — Co. view the source version at businesswire.com:https://www.businesswire. com / news / home / 20210712005238 / en / CONTACT: Cara Major or Miles Radcliffe-Trenner (212) 750-8300media@kkr.com KEYWORD: UNITED STATES NORTH AMERICA ARIZONA NEW YORKINDUSTRY KEYWORD: PROFESSIONAL SERVICES PROPERTY RESIDENTIAL CONSTRUCTION & BUSINESS Wire 2021.PUB: 7/12/2021 7:00 AM / DISC: 7/12/2021 7:01 AM http://www.businesswire.com/news/home/20210712005238/en Copyright Business Wire 2021.
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