KKR invests in single-tenant commercial property in US
It takes a stake in Drawbridge Realty, which manages real estate for companies
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Seattle
KKR & Co made its first investment in single-tenant commercial real estate, a market in which US$50.8 billion of US properties changed hands last year, by taking a stake in closely held Drawbridge Realty.
The funds will help San Francisco-based Drawbridge expand nationally through acquisitions, said Kristi Huller, a KKR spokeswoman. She would not disclose how much the firm invested.
Drawbridge buys, develops and manages properties for corporations, mainly office, research and industrial buildings. It oversees about three million square feet valued at about US$800 million…
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