India, April 25 -- KKR & Co. Inc. (KKR), an investment major, said on Thursday that it has inked a deal with Blackstone Real Estate Income Trust, Inc. or BREIT, for funds managed by KKR to acquire a portfolio of 19 purpose-built student housing properties from BREIT for around $1.64 billion.
KKR is making the investment primarily from its KKR Real Estate Partners Americas III fund.
Over 10,000-bed portfolio is comprised of 19 purpose-built, premium student housing assets anchored to 14 leading four-year public universities across 10 states, the company said.
Upon closing of the transaction, expected to be closed in the third-quarter, the portfolio will be managed by KKR's University Partners, an owner and operator of student housing acro...