KKR announces the formation of Strategic Lease Partners, a net lease investment platform

Global investment firm KKR said on Thursday that it had launched Strategic Lease Partners (SLP), a new platform to invest in a diversified portfolio of triple-net lease real estate.

The investment, which will come mostly from KKR’s credit and real estate funds, will put the platform in position to acquire more than $3 billion in assets.

Veteran net lease investors Andrés Dallal and Joseph Mastrocola are expected to become Partners at SLP, while cooperating with KKR’s real estate, credit and capital markets teams.

Before joining Strategic Lease Partners, Dallal and Mastrocola served as Executive Directors at W.P. Carey, where they were in charge of sourcing, evaluating, negotiating and structuring net lease investments in North America.

“We believe there is an attractive opportunity to acquire NNN assets and be a real estate partner of choice for companies in need of comprehensive, creative net lease solutions. By leveraging KKR’s broad-based real estate, credit and capital markets capabilities and resources – and the deep connectivity between them – SLP can be a differentiated partner for corporate tenants,” Billy Butcher and Jenny Box, Partners at KKR, said in a statement.

“We look forward to partnering with Andrés and Joe, two accomplished investors with deep relationships and great experience sourcing and evaluating net lease opportunities, to build-out SLP,” they added.