KKR invests $475 million in Campus Point joint venture with Alexandria Real Estate
ARE•ARE•ARE•ARE•KKR-advised capital accounts invested $475 million for a 49% noncontrolling equity interest in Alexandria Real Estate’s investment entity tied to its Campus Point campus in San Diego. The interest represents approximately 28.5% indirect ownership in the underlying joint venture, which Alexandria will continue to control.
KKR-advised capital accounts invested $475 million in a joint venture involving Alexandria Real Estate Equities’ Campus Point campus in San Diego. The investment acquired a 49% noncontrolling equity interest in Alexandria’s investment entity, representing approximately 28.5% indirect ownership in the underlying joint venture.
Alexandria retains control of the underlying joint venture and will continue overseeing campus operations and development. The proceeds provide flexible, long-term capital for continued development, leasing and property enhancements at the nearly 2 million-square-foot life science campus.
