KKR Financial Holdings LLC Announces Investment in Yorktown Center
SAN FRANCISCO, April 19, 2012 /PRNewswire/ -- KKR Financial Holdings LLC (NYSE: KFN) (the "Company") today announced an investment of approximately $38 million in Yorktown Center ("Yorktown" or "the Center"), a major shopping and entertainment center in the Chicago area.
Located approximately 20 miles west of downtown Chicago, Yorktown is a 1.5 million square foot super-regional mall with over 150 stores sitting on 130 acres. With over $280 million in annual revenues, the Center has many recognized national retailers, including The Capital Grille Restaurant, Victoria's Secret, American Eagle Outfitters, Gap, AMC Theaters, Forever 21 and department store chains JC Penney, Carson Pirie Scott, and Von Maur.
Yorktown has been under private ownership since it opened in 1968. The Center serves an affluent audience of more than 900,000 residents with an average household income of nearly $109,000; more than 10 million shoppers visit the center every year.
About KKR Financial Holdings LLC
KKR Financial Holdings LLC (NYSE: KFN) is a specialty finance company with expertise in a range of asset classes. KFN's core business strategy is to leverage the proprietary resources of its manager with the objective of generating both current income and capital appreciation. KFN executes its core business strategy through its majority-owned subsidiaries. KFN is externally managed by KKR Financial Advisors LLC, a wholly-owned subsidiary of KKR Asset Management LLC, which is a wholly-owned subsidiary of Kohlberg Kravis Roberts & Co. L.P. Additional information regarding KKR Financial Holdings LLC is available at http://www.kkr.com.
SOURCE KKR Financial Holdings LLC