SEOUL, South Korea–(BUSINESS WIRE)– Global investment firm KKR, Korea’s largest real estate fund manager IGIS Asset Management (“IGIS”), and leading Korean real estate developer SK D&D today announced their acquisition of Namsan Square, an office tower located in the central business district of Seoul, from a real estate investment trust operated by KOREIT, a domestic asset manager in Korea.

Built in 1978, Namsan Square is strategically located at the gateway to Seoul’s central business district. It occupies more than 75,000 square meters across 23 floors of premium office and retail space and includes tenants such as multinational and South Korean corporations, as well as government organizations. Formally known as Kukdong Building, Namsan Square has been renovated through the years and today holds a LEED Gold green building certificate.

The consortium plans to enhance the workspace environment by upgrading the building façade, restrooms and the retail arcade without disruption to existing tenants.

David Cheong, a Director on KKR’s Asia Real Estate team, said, “South Korea holds terrific potential for real estate investment, and the market is a core part of KKR’s regional real estate strategy. Namsan Square is particularly compelling as one of Seoul’s preeminent commercial buildings, and we are extremely pleased to have the opportunity to collaborate with IGIS and SK D&D to significantly improve existing tenants’ overall experience and work-life balance by executing various refurbishment and value-add works.”

Junho Pok, Head of Real Estate Development at IGIS, said, “We are excited to extend our relationship with a world-class investor like KKR to invest in this high-quality property at the gateway of Seoul’s business district. The IGIS team looks forward to bringing our extensive experience renovating real estate projects to Namsan Square and enhancing this property for tenants in the years to come.”

Sun-Pyo Hwang, Head of Real Estate Development Division at SK D&D, said, “This is a compelling investment made alongside strong local and global partners. Through proactive management and our ability to enact key improvements, we look forward to adding value to Namsan Square and enhance the working experience for tenants.”

KKR takes a flexible approach to real estate investment in Asia Pacific across traditional value-add real estate opportunities, corporate and platform investments, and special situations. KKR pairs the capabilities of its local teams in Asia Pacific with the Firm’s global industry and operational expertise to add value. KKR has committed more than US$1.4 billion of equity in its pan-regional real estate strategy, as of December 31, 2019.

South Korea is a key part of KKR’s Asia real estate strategy, and Namsan Square is the Firm’s fourth real estate investment in the country. Previous investments include The-K Twin Towers, a prime office complex located in Seoul’s Gwanghwamun district, Renaissance Parc, a mixed-use real estate development project in Seoul’s Gangnam business district, and the BLK Pyeongtaek Logistics Center development in Pyeongtaek.

KKR makes its investment from its real estate fund. Further details of the transaction are not disclosed.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200227006075/en/

Media Contacts:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

The Signature (for KKR Korea)
Nuri Hwang
+82 2 6951 3557
Nuri@thesignature.co.kr

Source: KKR

NEW YORK–(BUSINESS WIRE)–Jan. 7, 2020– KKR, a leading global investment firm, today announced that it has acquired Riata Corporate Park in Austin, Texas, in a deal valued at approximately $258 million.

Riata Corporate Park is an eight building, 688,100 square foot, Class A office campus located in Northwest Austin, Austin’s largest office submarket. The acquisition includes an adjacent land site that is entitled for a ninth office building. Riata Corporate Park is ideally located five miles from The Domain, Austin’s second Central Business District.

KKR is planning an $11 million capital improvement program to the campus including to amenities such as fitness centers, the café and outdoor plazas.

“Riata is a unique corporate campus centered in an incredibly dynamic area in Austin, one of the fastest growing markets in the U.S. We are thrilled to be investing in the property and the region, and look forward to continue building upon its best-in-class position,” said Roger Morales, a Partner at KKR and Head of Commercial Real Estate Acquisitions in the Americas.

KKR is making the investment through its Real Estate Partners Americas Fund II.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200107006122/en/

Source: KKR

Media:
Kristi Huller or Cara Major
212-750-8300
media@kkr.com

Firm Closes on Two Real Estate Transactions in the Greater Seattle Region

NEW YORK–(BUSINESS WIRE)–Dec. 23, 2019– KKR, a leading global investment firm, today announced the closing of two real estate transactions totaling over $1.2 billion located in the greater Seattle region, including the Summit located in downtown Bellevue and the F5 Tower in downtown Seattle.

The Summit is a 915,000-square-foot Class A office complex in the Bellevue central business district. The complex is 99% leased, and is comprised of two existing LEED Platinum office buildings and a third building currently under construction, expected to be completed in Q3 2020. The properties are well located in the heart of the central business district, one block from the Bellevue Transit Center and the Bellevue Downtown Light Rail Station opening in 2023.

F5 Tower is a recently completed 43-story tower in the Seattle central business district, which includes the 100% leased 516,000-square-foot office condominium acquired by KKR alongside a separate 189-room luxury hotel. The property is architecturally significant to the Seattle skyline and home to F5 Networks as their global headquarters.

“We are excited to be making these two real estate investments in the Puget Sound Region, a market we believe has attractive long-term growth driven by a highly educated employee base, attractive cost of living relative to other top tier markets in the U.S. and high-quality of life,” said Justin Pattner, KKR’s Head of Real Estate Equity in the Americas. “The region is the headquarters to several of the world’s largest companies, and has recently attracted others to build a significant presence in the region. We are looking forward to growing our own presence there with these transactions.”

The buildings will be operated by Urban Renaissance Group, a Seattle based real estate investor, developer, and manager of real estate, who assisted with the acquisitions.

Since launching a dedicated real estate platform in 2011, KKR has invested or committed approximately $9 billion in capital across over 200 real estate transactions in the U.S., Europe and Asia as of September 30, 2019. KKR’s global real estate team consists of over 85 dedicated investment professionals, spanning both the equity and credit businesses.

These investments are being funded by accounts co-advised by KKR and KKR’s balance sheet.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Urban Renaissance Group

Urban Renaissance Group LLC is a Seattle-based full-service commercial real estate company, engaged in acquisitions, development, asset management, leasing, property management and ownership in Seattle, Bellevue, Denver and Portland. Founded in 2006, the strategic premise of URG is that the form of the American City will change dramatically during the next 20 years. The company acts as a catalyst that understands and ignites that change, thereby building community, generating appropriate returns for its investors and opportunities for its partners and employees. Learn more at www.urbanrengroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191223005137/en/

Source: KKR

Media

KKR:
Kristi Huller or Cara Major
212.750.8300
Media@KKR.com

Successful completion of Selectirente’s capital increase
Paris, 17 December 2019 – Tikehau Capital, the alternative asset management and investment firm, today announced the successful completion of its listed subsidiary Selectirente’s capital increase,1 for a total of €217 million, also announcing that it now holds a 50.1% stake in the company.2
The success of this transaction confirms Selectirente’s attractive position in the real estate market, and provides the company with additional resources to finance its growth.

Selectirente is a listed real estate investment company specialised in commercial leasehold property in city centres and peripheral areas. Founded in 1997, Selectirente mainly invests in commercial property assets leased to retail tenants operating stores or boutiques, with a long-term target of generating secure rental income while optimising yields for the assets held in its portfolio. Since its inception, Selectirente has relied on the expertise of Sofidy (a subsidiary of Tikehau Capital), to which it has delegated full management of its portfolio.

Selectirente implements an ambitious development strategy with the support of Tikehau Capital, as previously announced during the public tender offer for shares and OCEANE announced by Tikehau Capital at the end of 2018. In a rapidly changing retail market, the proceeds from this capital increase will finance Selectirente’s growth strategy, which is organised along two main lines: continuing its focus on ground-floor retail premises in residential buildings, drawing on its strong track record in this area, while pursuing a second, more opportunistic, approach centred on the process of metropolisation.

Tikehau Capital took part in this capital increase with an investment of €97million, raising its stake in Selectirente to 50.1%2 (and 52.07% in concert3) thereby strengthening its expertise in a buoyant market segment, while maintaining Selectirente SIIC status.
1 Cash capital increase without preferential subscription rights and with a priority period for existing shareholders to apply for new shares, launched on 4 December 2019.
2 Of which, 37.5% held by Tikehau Capital SCA and 12.6% held by Sofidy.
3 See Selectirente’s press release dated December 16, 2019 (https://www.selectirente.com/augmentation-de-capital/)

About Tikehau Capital:
Tikehau Capital is an asset management and investment group with €24.3bn of assets under management (as at 30 September 2019) and shareholders’ equity of €3.1bn (as at 30 June 2019). The Group invests in various asset classes (private debt, real estate, private equity and liquid strategies), including through its asset management subsidiaries, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs more than 500 staff (as at 30 September 2019) in its Paris, London, Amsterdam, Brussels, Luxembourg, Madrid, Milan, New York, Seoul, Singapore and Tokyo offices.
Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)
www.tikehaucapital.com

Press Contacts:
Tikehau Capital: Julien Sanson – +44 20 3821 1001
Finsbury: Arnaud Salla & Charles O’Brien – +44 207 251 3801
press@tikehaucapital.com
Shareholders and Investors Contact:
Louis Igonet – +33 1 40 06 11 11
shareholders@tikehaucapital.com

Disclaimer:
This press release is not intended for publication, dissemination, transmission or distribution directly or indirectly to or within the United States of America, Canada, Australia, Japan or any other country in which the publication, dissemination, transmission or distribution of this press release is unlawful.
This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed.
Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relates to Tikehau Capital North America.