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KKR acquires UK-based retail park portfolio in first European property deal

6 Jun 2013

shopping mall escalatorBuyout giant KKR has made its first real estate acquisition in Europe by buying a 430,000 square foot UK-based retail park portfolio from Resolution Property.

The portfolio includes multi-let retail warehouse space in Oxford, Glasgow and Sunderland in addition to food, shopping and retail outlets.

KKR did not disclose the financial terms of the deal.

Head of the KKR Europe real estate team Guillaume Cassou said, “We are excited to be announcing KKR’s first European property acquisition, and are delighted that it is in a strong portfolio which combines excellent locations and attractive opportunities for asset management.

“KKR is perfectly placed to develop the portfolio given the company’s experience and expertise in the retail sector with leading companies such as Pets at Home and Alliance Boots.

“We look forward to doing more such deals in the UK and Europe.”

Last month AltAssets reported that KKR expected to close its North America Fund XI by the end of this year, anticipating a September final close of $8bn.

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