KKR & Co. is seeking to sell nine commercial real estate projects across China, including properties in Beijing and Shanghai. The firm is exiting these positions as the country’s property downturn drives down values and weakens leasing demand.
The asset manager expects sale proceeds to cover outstanding bank loans on the properties. These loans represent 50% to 60% of the original purchase prices.
This pricing suggests KKR may offload the assets at a sharp loss. The move reflects a broader retreat by global investors facing pressure from China’s prolonged real estate crisis.