Strategic Lease Partners (SLP) is a platform launched by KKR to acquire a diversified portfolio of triple-net lease (NNN) real estate. Strategic Lease Partners closed six transactions in the fourth quarter of 2021 for a total of US$ 780 million. SLP is working closely with KKR’s real estate, credit and capital markets teams to underwrite a wide range of mission-critical properties and deliver customized sale-leaseback solutions for a group of high quality corporate and sponsor-backed tenants. The platform is initially targeting to acquire more than $3 billion in assets, primarily capitalized through KKR’s credit and real estate funds.
The six transactions SLP closed last quarter followed the platform’s launch in August 2021 and consisted primarily of mission critical industrial assets, with a focus on sale-leasebacks (SLBs) for private equity-backed companies with durable business models. The transactions ranged in size from under $15 million for an individual property to over $500 million for a portfolio and included both domestic and cross-border portfolios. SLP’s acquisitions comprised 31 individual assets across nearly 5.4 million square feet with a weighted average lease term (WALT) of over 16 years, while over half of the portfolio holds LEED designation.
Read more: SWFI
