KKR Invests $475 Million in Alexandria Real Estate Equities’ Campus Point
Alexandria retains control and operational oversight while KKR acquires a noncontrolling stake in the Campus Point investment entity.
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KKR has acquired a
Campus Point is located in San Diego’s University Town Center submarket, adjacent to the University of California San Diego, the Salk Institute and Scripps Research, and is home to a roster of leading global pharmaceutical, biotechnology, research organizations and technology companies. The Megacampus includes tenants Novartis, Bristol Myers Squibb, Eli Lilly, Leidos and UC San Diego.
“Alexandria has built a premier Megacampus at Campus Point, supported by an exceptional tenant base and long-term contractual cash flows,” said Sam Caven, Co-Head of Acquisitions,
“This transaction marks an important step in our efforts to optimize our capital structure and unlock value across our portfolio,” said Peter Moglia, Alexandria Chief Executive Officer and Chief Investment Officer. “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. We believe this investment positions us to execute our business plan while creating long-term value for our shareholders.”
The investment is supported by Campus Point’s long-term leases with leading corporate and institutional tenants, which account for approximately
Eastdil Secured Savills acted as financial advisor and Proskauer served as legal advisor to Alexandria Real Estate. Gibson Dunn served as legal advisor to KKR.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. Founded in 1994, Alexandria pioneered the life science real estate niche. Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative Megacampus™ ecosystems in AAA life science and advanced technology innovation cluster locations, including Greater Boston, the San Francisco Bay Area, San Diego, Seattle, Maryland, Research Triangle and New York City. For more information, please visit www.are.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20261028043803/en/
Media Contacts
KKR
Brooke Rustad
Media@kkr.com
Alexandria Real Estate Equities, Inc.
Sara Cohen
Assistant Vice President- Capital Markets & Corporate Operations
(646)-799-2617
scohen@are.com
Source: KKR