KKR takes 49% stake in Alexandria campus
KKR, the investment firm.
The short version
- Alexandria Real Estate Equities, the property company.
- KKR buys 49% of campus.
- Means more development.
Why it matters to you. More development and potentially more jobs in the life sciences sector.
KKR, the investment firm, and Alexandria Real Estate Equities, the property company, announced a $475-million joint venture investment on Wednesday. KKR acquired a 49% noncontrolling equity interest in Alexandria's Campus Point investment entity, a nearly two-million-square-foot life sciences campus in San Diego.
Sam Caven, Co-Head of Acquisitions, Americas at KKR, said Alexandria has built a premier Megacampus at Campus Point, supported by an exceptional tenant base and long-term contractual cash flows. Peter Moglia, CEO and CIO of Alexandria, added that this transaction marks an important step in their efforts to optimize their capital structure and unlock value across their portfolio.
This investment provides Alexandria with flexible, long-term capital to support continued development, leasing and property enhancements. As Sam Caven said, they are excited to collaborate with Alexandria's team to support its continued development and drive long-term value. And who knows, maybe one day your business will be one of the tenants in this megacampus.
