KKR

About KKR

KKR's website says Henry Kravis and George Roberts co-founded the firm in 1976, alongside their mentor Jerome Kohlberg. KKR's business covers credit, private equity, infrastructure, real estate and capital markets. It also owns Global Atlantic, an insurance company.

For people researching real estate after selling a property, the relevant KKR product is KREST, which is open to individual investors.

KKR's broker-dealer, KKR Capital Markets LLC, is registered with FINRA under CRD 143571. BrokerCheck lists its address as 30 Hudson Yards in New York.

KKR's real estate programs for individual investors

Is there a KKR DST?

A Delaware statutory trust, or DST, is a trust that owns real estate. Many investors each hold a fractional interest, and DST interests can qualify as replacement property in a 1031 exchange. An EDGAR full-text search of Form D filings for "KKR" and "DST" returned no results as of November 1, 2026. A Form D is the notice that private offerings, including DSTs, file with the SEC.

This page found no KKR-sponsored DST. If you are offered one, ask for the Form D and the private placement memorandum (PPM) and confirm who the sponsor is.

KKR Real Estate Select Trust (KREST)

KKR announced KREST in a May 2021 press release. The release called it "a continuously offered, registered closed-end fund." It said KKR seeded the fund with over $150 million from its own balance sheet.

KREST's prospectus, dated January 26, 2026, gives the structure:

The prospectus says Class S and Class U shares "are available to the general public through Selling Agents." Unlike most DSTs, the fund is not limited to accredited investors.

The fund invests in several kinds of real estate. The prospectus names multifamily, single-family rental, industrial and single-tenant "prime" properties. It also says the fund "has historically invested a significant portion of its portfolio in CMBS." CMBS are bonds backed by commercial mortgages.

KREST is not a DST, and it is not real property. Its shares are shares of a fund. Section 1031 of the tax code covers exchanges of real property, so KREST shares generally cannot be bought as replacement property in a 1031 exchange. The guide can you 1031 into a REIT explains the rules. Confirm your situation with your CPA and qualified intermediary. Tender offers are not guaranteed, the fund's value can fall, and distributions are not guaranteed.

How to research KKR's offerings

KREST's prospectus (Form N-2) and its annual and semi-annual reports (Forms N-CSR and N-CSRS) are on SEC EDGAR under CIK 0001803958. You can look up KKR Capital Markets LLC (CRD 143571) on FINRA BrokerCheck. Ask about fees by share class, how often tender offers have been fully met and how much of the fund is in property versus debt. The guides on non-traded REITs and how to evaluate a REIT explain what to look for. If you are comparing it with a DST, see how to check a DST sponsor.

Frequently asked questions

Does KKR offer DSTs?

An SEC EDGAR full-text search of Form D filings found no KKR-sponsored DSTs as of November 1, 2026. KKR's real estate product for individual investors is KREST, a registered closed-end fund that qualifies as a REIT.

What is KREST?

KKR Real Estate Select Trust Inc. is a closed-end fund registered under the Investment Company Act of 1940 that has qualified as a REIT. KKR launched it in 2021, and its minimum initial investment is $10,000 for most share classes.

Can I use a 1031 exchange to buy KREST?

Generally, no. KREST is not a DST, and its shares are fund shares, not real property. Section 1031 covers exchanges of real property, so KREST shares generally cannot serve as 1031 replacement property. Your CPA and qualified intermediary can confirm what qualifies.

When was KKR founded?

KKR's website says it was co-founded in 1976 by Henry Kravis and George Roberts, alongside Jerome Kohlberg.

Who distributes KREST?

The prospectus names KKR Capital Markets LLC as principal underwriter and distributor. It is registered with FINRA under CRD 143571.