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 . . .

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