KREST grows multifamily portfolio with acquisitions in Brooklyn and Philadelphia

KKR Real Estate Select Trust has completed the purchases of two class A multifamily properties with a combined 1,380 units from different sellers in separate transactions.

The latest additions to KREST’s portfolio include a full-service, LEED Silver multifamily property located in downtown Brooklyn and a highly amenitized multi-building asset located on the border of the Main Line and West Philadelphia.

“We continue to see long-term trends supporting demand for lifestyle-oriented real estate near city centers,” said Daniel Rudin, managing director on KKR’s real estate equity team. “Both of these assets are well located from a live/work perspective and are ideal for younger working professionals seeking quality lifestyle-oriented housing with easy access to major cities.”

The downtown Brooklyn asset is a trophy, 2011 vintage, full-service residential property with modern finishes and amenities, including an outdoor terrace, fitness center, 24-hour doo