KKR Invests $475 Million in Alexandria Real Estate Equities’ Campus Point
Key Highlights
- ➤KKR commits $475 million to Alexandria’s Campus Point life science campus
- ➤KKR acquires 49% noncontrolling interest in Alexandria’s Campus Point investment entity
- ➤Campus Point spans nearly 2 million square feet in San Diego’s University Town Center
- ➤Long-term leases generate approximately 98% of Campus Point’s rental revenue
- ➤Alexandria retains operational and development control of the underlying joint venture
Expert Statements
Sam Caven, Co-Head of Acquisitions, Americas at KKR
“Alexandria has built a premier Megacampus at Campus Point, supported by an exceptional tenant base and long-term contractual cash flows”
Sam Caven, Co-Head of Acquisitions, Americas at KKR
“We are excited to collaborate with their team to support its continued development and drive long-term value.”
Peter Moglia, Chief Executive Officer and Chief Investment Officer of Alexandria Real Estate Equities
“This transaction marks an important step in our efforts to optimize our capital structure and unlock value across our portfolio”
Peter Moglia, Chief Executive Officer and Chief Investment Officer of Alexandria Real Estate Equities
“Our strategic partnership with KKR demonstrates the attractiveness of our high-quality assets to leading institutional investors and provides a flexible, long-term source of capital to support our continued investment in our Campus Point Megacampus.”
Peter Moglia, Chief Executive Officer and Chief Investment Officer of Alexandria Real Estate Equities
“We believe this investment positions us to execute our business plan while creating long-term value for our shareholders.”
KKR Invests $475 Million in Alexandria Real Estate Equities’ Campus Point
KKR (NYSE: KKR), a leading global investment firm, and Alexandria Real Estate Equities, Inc. (NYSE: ARE), the leading owner, operator and developer of life science and advanced technology real estate, today announced a $475 million joint venture investment by capital accounts advised by KKR in Alexandria’s majority ownership interest in Campus Point by Alexandria Megacampus™, a nearly 2 million-square-foot life science Megacampus in San Diego, California.
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