KKR Launches Triple-Net Lease Platform with $3B Portfolio Goal
KKR has formed Strategic Lease Partners (SLP), a new platform to invest in a diversified portfolio of triple-net lease real estate. KKR’s investment, primarily from its credit and real estate funds, will position the platform to acquire more than $3 billion in assets.
Veteran net lease investors Andrés Dallal and Joseph Mastrocola will join SLP as partners, working with KKR’s real estate, credit and capital markets teams to acquire NNN properties and deliver sale-leaseback solutions to corporate tenants.
“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,” said Billy Butcher and Jenny Box, partners at KKR.
Before joining SLP, Dallal and Mastrocola were executive directors at W. P. Carey, where they were responsible for sourcing, evaluating, negotiating and structuring net lease investments in North America.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).