{"id":1004568122,"date":"2022-02-18T03:50:00","date_gmt":"2022-02-18T11:50:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004568122"},"modified":"2022-12-08T19:16:18","modified_gmt":"2022-12-09T03:16:18","slug":"kkr-drawbridge-recap-1-7b-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/","title":{"rendered":"KKR, Drawbridge Recap $1.7B Portfolio"},"content":{"rendered":"
\"\"<\/a>

4 and 5 Polaris Way in Aliso Viejo, Calif. Image courtesy of Drawbridge Realty<\/p><\/div>\n

Global Atlantic Financial Group<\/strong>, KKR<\/strong>\u2019s insurance business, has recapitalized Drawbridge Realty<\/strong>\u2019s $1.7 billion portfolio, comprising innovation-focused office properties. The assets add up to 5.4 million square feet of Class A space, situated on the West Coast and the Sun Belt region.<\/p>\n

The portfolio, comprising high-quality assets in growth markets, was more than 95 percent leased at the time of closing. In connection to the deal, KKR and Drawbridge have set up a new venture, enabling the San Francisco-based real estate company to speed up its investments in similar office assets. In the coming two to three years, the partners plan on doubling the size of Drawbridge\u2019s portfolio.<\/p>\n

\n

READ ALSO<\/strong>: For Office Owners, It\u2019s Time to Make Lemonade<\/a><\/p>\n

\n

The duo first teamed up back in 2014, to recapitalize another portfolio alongside strategic investors. Following the current transaction, KKR will maintain its ownership interest in the investment management firm.<\/p>\n

Focus on office assets<\/h2>\n

Roughly one year ago, global investment firm KKR closed on the acquisition of Global Atlantic, one of the largest fixed rate and fixed annuity providers in the U.S. The insurance company became a subsidiary of KKR, which now holds a controlling 60 percent interest in Global Atlantic. The transaction was valued at roughly $4.7 billion.<\/p>\n

One of KKR\u2019s latest office investments included the purchase of HQ @ First<\/a>, a three-building, Class A campus in San Jose, Calif., marking one of the largest Bay Area office transactions of 2021. The company paid $535 million to Mori Trust Co. for the fully leased asset.<\/p>\n

In January 2021, Drawbridge completed the $149 million refinancing<\/a> of four office properties\u2014three in Southern California and one in Austin, Texas. California Bank & Trust, along with Bank of the West and TCF National Bank provided the five-year permanent loan.<\/p>\n","protected":false},"excerpt":{"rendered":"

The properties comprise more than 5 million square feet of innovative office space.<\/p>\n","protected":false},"author":739,"featured_media":1004548066,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,23891,21742,21747],"tags":[37444,35510,32883],"class_list":["post-1004568122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-national","category-latest","category-office","tag-drawbridge-realty","tag-global-atlantic-financial-group","tag-kkr"],"acf":[],"yoast_head":"\nKKR, Drawbridge Recap $1.7B Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"KKR completed the $1.7 billion deal through its affiliated insurance company, Global Atlantic Financial Group.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KKR, Drawbridge Recap $1.7B Portfolio\" \/>\n<meta property=\"og:description\" content=\"KKR completed the $1.7 billion deal through its affiliated insurance company, Global Atlantic Financial Group.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-18T11:50:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:16:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/4-and-5-Polaris-Way.-Image-courtesy-of-Drawbridge-Realty.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"311\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Beata Lorincz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/\",\"name\":\"KKR, Drawbridge Recap $1.7B Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/4-and-5-Polaris-Way.-Image-courtesy-of-Drawbridge-Realty.jpg\",\"datePublished\":\"2022-02-18T11:50:00+00:00\",\"dateModified\":\"2022-12-09T03:16:18+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\"},\"description\":\"KKR completed the $1.7 billion deal through its affiliated insurance company, Global Atlantic Financial Group.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/4-and-5-Polaris-Way.-Image-courtesy-of-Drawbridge-Realty.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/4-and-5-Polaris-Way.-Image-courtesy-of-Drawbridge-Realty.jpg\",\"width\":400,\"height\":311,\"caption\":\"4 and 5 Polaris Way. Image courtesy of Drawbridge Realty\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"KKR, Drawbridge Recap $1.7B Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\",\"name\":\"Beata Lorincz\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96\",\"caption\":\"Beata Lorincz\"},\"description\":\"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"KKR, Drawbridge Recap $1.7B Portfolio - Commercial Property Executive","description":"KKR completed the $1.7 billion deal through its affiliated insurance company, Global Atlantic Financial Group.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/","og_locale":"en_US","og_type":"article","og_title":"KKR, Drawbridge Recap $1.7B Portfolio","og_description":"KKR completed the $1.7 billion deal through its affiliated insurance company, Global Atlantic Financial Group.","og_url":"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-02-18T11:50:00+00:00","article_modified_time":"2022-12-09T03:16:18+00:00","og_image":[{"width":400,"height":311,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/4-and-5-Polaris-Way.-Image-courtesy-of-Drawbridge-Realty.jpg","type":"image\/jpeg"}],"author":"Beata Lorincz","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/","url":"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/","name":"KKR, Drawbridge Recap $1.7B Portfolio - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/4-and-5-Polaris-Way.-Image-courtesy-of-Drawbridge-Realty.jpg","datePublished":"2022-02-18T11:50:00+00:00","dateModified":"2022-12-09T03:16:18+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004"},"description":"KKR completed the $1.7 billion deal through its affiliated insurance company, Global Atlantic Financial Group.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/4-and-5-Polaris-Way.-Image-courtesy-of-Drawbridge-Realty.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/4-and-5-Polaris-Way.-Image-courtesy-of-Drawbridge-Realty.jpg","width":400,"height":311,"caption":"4 and 5 Polaris Way. Image courtesy of Drawbridge Realty"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/kkr-drawbridge-recap-1-7b-portfolio\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"KKR, Drawbridge Recap $1.7B Portfolio"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004","name":"Beata Lorincz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","caption":"Beata Lorincz"},"description":"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.","url":"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/4-and-5-Polaris-Way.-Image-courtesy-of-Drawbridge-Realty.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004568122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/739"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004568122"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004568122\/revisions"}],"predecessor-version":[{"id":1004568160,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004568122\/revisions\/1004568160"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004548066"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004568122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004568122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004568122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}