KKR makes first debt investment out of KREST

KKR provided a mezzanine loan to real estate firm Crescent Heights to support the refinancing of NEMA Chicago, an 800-unit luxury residential building in Chicago’s South Loop neighborhood.
The $65 million loan was done through KKR Real Estate Select Trust (KREST) and was the first debt investment through KREST.
“KREST’s first investment in a mezzanine loan is representative of the real estate credit component of KREST’s strategy: attractive yield backed by strong sponsorship and a best-in-class asset in a top market,” said Billy Butcher, chief executive officer of . . .
Continue Reading
Unlock this article instantly, along with the rest of our premium content, newsletters and data tables tracking investor and manager activity. Monthly and annual subs available. Research articles require an Annual sub.