Commercial and Multifamily Briefs From KKR, JLL

KKR Launches Net Lease Investment Platform Strategic Lease Partners

KKR, New York, formed Strategic Lease Partners, a new platform to invest in triple-net lease real estate.

KKR’s investment, primarily from its credit and real estate funds, will position the platform to acquire over $3 billion in assets.

Net lease investors Andrés Dallal and Joseph Mastrocola joined SLP as Partners, working with KKR’s real estate, credit and capital markets teams to acquire triple-net lease properties and deliver sale-leaseback solutions to corporate tenants.

Prior to joining SLP, Dallal and Mastrocola were Executive Directors at W.P. Carey, where they were responsible for sourcing, evaluating, negotiating and structuring net lease investments in North America. Both executives bring strong investment expertise across long-term, triple-net, single-tenant sale-leasebacks and build-to-suit transactions for corporate clients.

JLL Income Property Trust Declares 39th Consecutive Quarterly Dividend

JLL Income Property Trust, Chicago, an institutionally managed real estate investment trust with more than $4.5 billion in portfolio assets and 91 properties, approved a gross dividend for third-quarter 2021 of $0.135 per share. The REIT has declared 39 consecutive quarterly dividends to its stockholders beginning with first-quarter 2012.

The dividend is payable on or around September 29 to stockholders of record as of September 24. On an annualized basis, this gross dividend is equivalent to $0.54 per share and represents a yield of approximately 4.4 percent on a NAV per share of $12.22 as of August 9, 2021. All stockholders will receive $0.135 per share less applicable share class specific fees and the annualized yield will differ based on the share class.

“In today’s yield-starved environment, core real estate has proven its benefits to long-term patient investors,” said Allan Swaringen, President and CEO of JLL Income Property Trust.