KKR's Asia real estate boss John Pattar says the acquisition of the manager allows the firm to tap into a new pool of public capital expected to complement its existing private funds.
The North Carolina-based apartment specialist closed on a fund for the strategy, but the bulk of the capital was raised through co-investment vehicles.
Teaming up with American Real Estate Partners, the Chicago-based firm is betting that multi-building properties are the future for the niche property type.
The Europe-focused logistics manager, known for partnering Blackstone, is aiming to diversify its capital base by offering to institutional investors funds, starting with a Netherlands-focused core/core-plus vehicle.