KKR, Hines Form JV To Develop 971-Acre Houston Office Park

Law360, New York (September 26, 2012, 2:04 PM EDT) -- Private equity firm Kohlberg Kravis Roberts & Co. LP has formed a joint venture with international real estate firm Hines Interests LP to develop a 971-acre office park in Houston, KKR said Wednesday, in a bid to add to its commercial real estate investments.

Under their agreement, KKR and Hines have exclusive rights to build up the master-planned Pinto Business Park, owned by Pinto Realty Partners LP, a division of Houston-based investment group Cockrell Interests Inc. Financial terms of the deal were not disclosed.

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