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KKR Enters Seattle Market With Acquisition of 1.4 MSF Office Portfolio for $1.2B

KKR, a global investment firm, has closed on two real estate transactions totaling more than $1.2 billion. The firm purchased Summit in downtown Bellevue and F5 Tower in downtown Seattle, both office assets. Urban Renaissance Group, a Seattle-based real estate investor, developer and manager of real estate, will operate the properties. The company also assisted with the acquisition. These investments are being funded by accounts co-advised by KKR and KKR’s balance sheet. The names of the sellers were not released.