{"id":1004747343,"date":"2025-02-17T03:59:18","date_gmt":"2025-02-17T11:59:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004747343"},"modified":"2025-02-17T03:59:20","modified_gmt":"2025-02-17T11:59:20","slug":"kkr-closes-opportunistic-credit-fund-at-850m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/kkr-closes-opportunistic-credit-fund-at-850m\/","title":{"rendered":"KKR Closes Opportunistic Credit Fund at $850M"},"content":{"rendered":"\n<p>Global investment firm KKR has closed its Opportunistic Real Estate Credit Fund II at about $850 million. The investment vehicle will provide senior loans and real estate securities in the U.S. and Western Europe.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/19936-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004725786\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/kkr-pays-377m-for-industrial-portfolio\/19936-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/19936-1.jpg\" data-orig-size=\"1000,750\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"KKR_Park_8Ninety\" data-image-description=\"&lt;p&gt;Property at 9021 S. Sam Houston Parkway, Missouri City, Texas.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Last month, KKR-advised capital accounts in conjunction with REPA III purchased Park 8Ninety in Missouri City, Texas. Image courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/19936-1.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/19936-1.jpg\" alt=\"Image depicts one of Park 8Ninety's warehouses\" class=\"wp-image-1004725786\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/19936-1.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/19936-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/19936-1.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">In July, KKR-advised capital accounts in conjunction with REPA III purchased Park 8Ninety in Missouri City, Texas. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Loan originations will focus on first mortgages secured by high-quality properties owned by institutional sponsors and sited in major markets. Meanwhile, securities investments will leverage KKR\u2019s position as the largest third-party purchaser of risk retention CMBS B-Pieces, according to the company.<\/p>\n\n\n\n<p>As of press time, a KKR spokesperson had not replied to <em>Commercial Property Executive<\/em>\u2019s request for additional information.<\/p>\n\n\n\n<p>KKR management emphasized the timing of the close, \u201cunderpinned by the opportunity to lend on high-quality, well-located assets at conservative leverage levels on re-set property values,\u201d and stated that \u201cprivate capital will play an increasingly important role in the commercial real estate market as loan demand continues to climb.\u201d<\/p>\n\n\n\n<p>Since 2015, KKR\u2019s real estate credit strategy has originated $43.4 billion of loans. The firm had $14 billion invested in commercial mortgage-backed securities as of September 2024.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-wide-ranging-activity\">Wide-ranging activity<\/h2>\n\n\n\n<p>Characteristically, KKR has been an active investor over the past year.<\/p>\n\n\n\n<p>For example, last July KKR <a href=\"https:\/\/www.commercialsearch.com\/news\/kkr-wraps-234m-industrial-buy\/\">acquired a 12-building logistics park<\/a> in southwest Houston from Artis Real Estate Investment Trust for $234 million. Park 8Ninety totals about 1.8 million square feet and was completed between 2017 and 2022.<\/p>\n\n\n\n<p>Then in August, capital accounts advised by KKR <a href=\"https:\/\/www.commercialsearch.com\/news\/kkr-pays-377m-for-industrial-portfolio\/\">purchased an approximately 2 million-square-foot, six-building portfolio<\/a> of Class A logistics assets for $377 million. The facilities are in gateway and infill submarkets in Seattle, Atlanta, Philadelphia, New Jersey and the San Francisco Bay Area. <\/p>\n\n\n\n<p>On a different front, last May <a href=\"https:\/\/www.commercialsearch.com\/news\/healthcare-realty-trust-enters-strategic-jv-with-kkr\/\">KKR and Healthcare Realty Trust Inc. entered into a strategic joint venture<\/a> to own and invest in medical outpatient buildings. Healthcare Realty was to receive about $300 million for its contribution and partnered with KKR to explore further acquisitions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Loan originations will focus on first mortgages secured by high-quality properties across the U.S. and Western Europe. <\/p>\n","protected":false},"author":882,"featured_media":1004725786,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,16,23891,21742],"tags":[32883],"class_list":["post-1004747343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-international","category-national","category-latest","tag-kkr"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>KKR Closes Opportunistic Credit Fund at $850M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"KKR closed its Opportunistic Real Estate Credit Fund II. 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