National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
KKR Closes Opportunistic Real Estate Credit Fund North of $850M
KKR said Friday it had reached the final close of the KKR Opportunistic Real Estate Credit Fund II (ROX II), a strategy dedicated to opportunistic investments in senior loans and real estate securities in the U.S. and Western Europe. Closed commitments to the commingled fund and separate accounts pursuing KKR’s opportunistic real estate credit strategy exceed $850 million.
“We believe it is a great time to invest real estate credit,” said Matt Salem, partner and head of real estate credit at KKR. “The asset class offers attractive absolute and relative returns, underpinned by the opportunity to lend on high-quality, well-located assets at conservative leverage levels on reset property values.”
The strategy has a flexible mandate to pursue attractive risk-adjusted returns across both loans and securities. Loan originations will focus on first mortgages secured by high-quality properties owned by institutional sponsors. Securities investments will leverage KKR’s position as the largest third-party purchaser of risk retention CMBS B-pieces, along with K-Star, KKR’s dedicated special servicer.
Pictured; KKR headquarters, 30 Hudson Yards in New York City.
- ◦Financing
