April 19 Private equity firm Kohlberg Kravis
Roberts & Co (KKR) closed a $196 million investment in
Yorktown Center, a Chicago-area mall, marking its first retail
real estate investment in the United States.
KKR said YTC Pacific will manage the day-to-day operations
of the mall and is also a co-investor in the transaction. YTC
Pacific is a partnership between Pacific Retail Capital
Partners, Collarmelle Partners and Peter Fair.
Yorktown Center generates over $280 million in annual
revenue and has many national retailers and department store
chains like Gap, American Eagle Outfitters, Forever21 and JC
KKR shares were down slightly at $14.23 in early trade on
Thursday on the New York Stock Exchange.