Kohlberg Kravis Roberts & Co., one of the original buyout shops, has long resisted getting into real estate. But after years of watching rivals invest billions of dollars in property, KKR finally is making its own big push.
The firm’s $196 million acquisition last week of a Chicago-area shopping mall kicked off what is expected to be a flurry of deals in the months ahead.
KKR recently paid $60 million for part of a real-estate-related loan from a European financial institution, and it is in contract to provide a $25 million mezzanine loan to a hotel operator for a property renovation.