KKR Launches Strategic Lease Partners Targeting $3bn in Assets

KKR’s investment, primarily from its credit and real estate funds, will position the platform to acquire over $3bn in assets. Veteran net lease investors Andrés Dallal and Joseph Mastrocola will join SLP as Partners, working with KKR’s real estate, credit and capital markets teams to acquire NNN properties and deliver sale-leaseback solutions to corporate tenants.

“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. 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,” said Billy Butcher and Jenny Box, Partners at KKR.

Prior to joining SLP, Messrs. Dallal and Mastrocola were Executive Directors at W.P. Carey, where they were responsible for sourcing, evaluating, negotiating and structuring net lease investments in North America. Both executives bring strong investment expertise across long-term, triple-net, single-tenant sale-leasebacks and build-to-suit transactions for corporate clients.