SEOUL, South Korea–(BUSINESS WIRE)–Oct. 9, 2018– KKR, a leading global investment firm, together with IGIS Asset Management (“IGIS”), the largest real estate fund manager in Korea, announced today that they have made an investment along with the National Pension Service of Korea (“NPS”) to acquire a mixed-use real estate project (the “Asset”) under development in the Gangnam Business District (“GBD”) in Seoul, South Korea. The project, to be purchased from a consortium led by local engineering firm Daor E&C, is expected to cost approximately KRW 2.1 trillion(US$ 1.9 billion) in total, inclusive of purchase price and further costs to complete. Additional terms of the transaction were not disclosed.

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The Asset is located in the heart of the GBD at the intersection of Teheran-ro and Eonju-ro on the former Renaissance Hotel site. Currently under construction, the property will primarily consist of prime grade office space, amenity retail space and a five-star hotel, with a gross floor area of 239,188 square meters and net leasable area of 121,707 square meters. A 20-year master lease agreement for the 263-room hotel has been signed with Shinsegae Chosun, an experienced and best-in-class hotel operator.

“We are thrilled to be investing in what we believe will be an iconic property in an excellent location, and to be teaming up with outstanding partners including IGIS and NPS to do so. We look forward to continue building on our global real estate platform by making quality real estate investments in South Korea and throughout Asia Pacific more broadly,” said John Pattar, Member & Head of Real Estate Asia at KKR.

“We are excited to make this investment along with world-class investment firms KKR and NPS. We expect to develop the property not just as the best real estate asset in South Korea, but also as a landmark building in the global real estate market,” said Sock-woo Jung, President of Domestic Investment at IGIS.

KKR’s investment is being funded from KKR Asian Fund III. The investment is KKR’s third real estate investment in South Korea. Previously KKR invested in The-K Twin Towers, a prime office complex located in Seoul’s Central Business District, in June 2014. The-K Twin Towers was sold to Samsung SRA in January 2018 at a record price.

Since 2011, KKR has committed approximately US$ 2 billion in equity and debt across nearly 50 real estate transactions in Asia Pacific markets including South Korea, Australia, China, India, New Zealand and Singapore. The firm has a dedicated team of approximately 20 real estate professionals based in Asia Pacific spanning both the equity and credit strategies.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About IGIS

IGIS, the largest integrated real estate investment and asset management firm in Korea, currently manages real estate assets valued at more than KRW 22.6 trillion (US$ 20 billion; gross asset value). In August 2018, the Institutional Real Estate, Inc. (IREI) named IGIS as the fourth largest real estate manager in Asia in terms of assets under management.

Source: KKR

Media
For KKR Asia:
Cara Major, +852-3602-7335
Cara.Major@KKR.com
or
For KKR South Korea:
Gaeun Choi, +82-2-6951-3546 / +82-10-9186-1324
KKR@thesignature.co.kr

August 15, 2018, Hong Kong – Real estate private equity firm Gaw Capital Partners announced the acquisition of Bell City mixed-use development for AUD$157 million in Melbourne’s Preston precinct through its funds under management and its hospitality arm, GCP Hospitality.

Bell City, located just 20 minutes from Melbourne Airport and the CBD, consists of two hotels totaling 844 guestrooms under the Mantra and BreakFree brands, a conference complex, commercial tenancies, a 600-space car park and serviced offices.

In response to the growing popularity of community living, GCP Hospitality will work to incorporate a ‘co-living’ concept with vibrant social areas, a co-working hub, a state-of-the-art fitness center, in-vogue restaurants and bars, and an outdoor pool. Moreover, the Group will roll-out its modern student shared accommodation brand: Campus.

Kenneth Gaw, President and Managing Principal of Gaw Capital Partners, said, “We are excited about the opportunities this acquisition presents. In addition to giving us a foothold in the Melbourne market, this major hospitality asset will allow us to effectively roll out multiple concepts within the same project. After this acquisition, we look forward to further expansion opportunities in the Australia market.”

Christophe Vielle, CEO & Co-Founder of GCP Hospitality, said, “We are delighted to expand our footprint in Australia with this new acquisition. The increasing demand for modern community living concepts will allow us to introduce within Bell City an in mode ‘co-living’ concept as well as roll-out our student shared accommodation concept – Campus – which has been successfully launched in Hong Kong and is due to open in Perth’s city center in January 2019.”

LIST OF PARTIES INVOLVED

ABOUT ARDIAN

MIAMI, June 14, 2018 /PRNewswire/ — KKR and Parkway Property Investments, LLC (“Parkway”) announced today the acquisition of 1111 Brickell, a 30-story, approximately 522,000 square foot Class A office tower in the heart of Miami’s dynamic Brickell submarket. The asset was purchased in a newly-formed joint venture between affiliates of KKR and Parkway. Square Mile Capital Management LLC originated the acquisition financing.

1111 Brickell is a perennial fixture of the Miami skyline and part of the acclaimed mixed-use project which includes the adjacent JW Marriot Hotel on Brickell Avenue. Constructed in 2000, 1111 Brickell features panoramic views of Miami and Biscayne Bay, an expansive lobby and approximately 18,000 square feet of green space.

KKR and Parkway, in partnership with a curated group of renowned local and international designers, intend to complete a comprehensive renovation to transform the building into a modern work environment centered on hospitality, community and wellness.

KKR is funding the investment primarily from KKR Real Estate Partners Americas II.

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, growth equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com. and on Twitter @KKR_Co.

About Parkway
Parkway is a growth oriented, office operator that currently operates approximately 12 million square feet of high-quality office properties located in attractive submarkets in Sacramento, California, Houston, Texas, Jacksonville and Miami, Florida, and North Carolina. Parkway’s mission is to enhance user experience at the properties it operates, add value to its investors, and expand its presence in other sun-belt markets.

About Square Mile
Square Mile Capital Management LLC is an integrated institutional real estate finance and investment management firm based in New York. The firm’s commercial real estate debt platform provides customized capital solutions for real estate assets throughout the United States. Square Mile’s opportunistic platform takes a value-oriented approach to its investment activities, with an emphasis on opportunities to invest in real estate assets or enterprises that are undervalued, complex or under-capitalized.

MEDIA CONTACT:

KKR:
Kristi Huller or Cara Major
212-750-8300
media@kkr.com

Parkway:
A. Noni Holmes-Kidd
Vice President, General Counsel
T:  +1 407 581 3351
nholmes-kidd@pky.com

Paris, May 24, 2018 – Eurazeo Patrimoine, the Eurazeo investment division specializing in real estate asset companies, has signed a partnership with Dazia Capital, a Spanish operator and investor dedicated to the acquisition, renovation and split sale of residential buildings in Madrid and Spain’s other main cities.

The partnership, which consists in a joint venture between Eurazeo Patrimoine and Dazia Capital, named as Dazeo, will cover a three-year equity investment program of €70 million for Eurazeo, involving transactions to be completed in Madrid, Barcelona, Valencia and the Costa del Sol;

An initial and designated acquisition portfolio of €12 million in equity for Dazeo, comprising three buildings in Madrid (Alcala, Santa Engrancia, and Santa Isabela), of which the first, Alcala, has also been signed as of today.

This project will encompass a total of 2,600 m2, including a 23 apartments. Dazia Capital will be responsible for managing the projects on a daily basis, from development to the sale of finished apartments.

The partnership offers an attractive risk-return ratio for Eurazeo Patrimoine, as demand for downtown housing increases in Spain in the midst of an economic recovery. The signature of this joint venture represents an opportunity for Eurazeo Patrimoine to position itself on the Spanish market over the long term and contribute to the country’s residential real estate drive.

Quoting Renaud Haberkorn, Managing Partner of Eurazeo Patrimoine:

“In setting up this joint venture, our goal is to develop a value-added residential investment platform that will strengthen our position on the Spanish market. We are already active in Spain, where we own nine hotels, whose performance underscore the vitality of the recovery, and now we wish to capitalize on the turnaround in residential real estate, where prices have not yet reach their 2008 level. To achieve this, we can rely on the local know-how of our partner Dazia Capital, and a seasoned team of professionals with an impressive track record in project ourcing.”

Daniel Mazin, CEO of Dazia Capital, added:

“By entering into this alliance with Eurazeo, Dazia is accelerating its residential investment program in urban areas and major spanish  tourist centers. Our strategy is based on the significant investment needed to improve existing buildings in major cities or to build new ones and meet the growing demand of the population who wish to return to live in the city centre, held back by the obsolescence of the park. We fully share Eurazeo’s strategic vision and leaning on this prestigious partner and its teams with recognized skills will strongly contribute to the achievement of our objectives.”

About Eurazeo

With a diversified portfolio of approximately €16 billion in assets under management, including €10 billion from third parties, Eurazeo is a leading global investment company with offices in Paris and Luxembourg, New York, Shanghai and Sao Paulo. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. The firm covers most private equity segments through its five investment divisions–Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands – and through three Idinvest business divisions:

Venture Capital, Private Debt and Dedicated Portfolio & Funds.

Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. As a global long-term shareholder, the firm offers deep sector expertise, a gateway to global markets, and a stable foothold for transformational growth to the companies it supports.

Eurazeo is listed on Euronext Paris.

ISIN: FR0000121121

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Bloomberg: RF FP

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Reuters: EURA.PA

About Dazia Capital

Dazia Capital is a real estate operator in Madrid.

The business strategy is focused on the residential market in urban centres and the best tourist locations in Spain. The firm closed 2017 with a cumulative investment of 185 million euros. This investment has been carried out through the gradual acquisition, over the last three years, of different buildings and floors covering an area of 86,000 square metres and 500 homes located in Madrid and the Costa del Sol.