HOUSTON-The new real estate group at Kohlberg Kravis Roberts& Co. is making investments on an industrial development inHouston. KKR is partnering with Hines, a real estate developer andmanager, to develop 971 acres of land in Houston for industrialuse.
The partners are expecting that the total cost of the projectwill reach almost $900 million, including $300 million in equity.They are looking to attract local health-care, energy and othercompanies to construct light manufacturing and distributionfacilities on the site. For the full story, go to Wall Street Journal .
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