KKR Group to Develop Housing Community in Oil-Rich North Dakota
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KKR & Co., the buyout firm that started a real estate unit last year, plans to develop a housing community in Williston, North Dakota, to meet demand from an influx of workers in the state’s booming oil industry.
The company is teaming with Pfeffer Capital Advisers LP and CP Realty LLC on the project, according to a statement from the group today. The New York-based private-equity firm will invest as much as $150 million with the two partners for the development, said a person briefed on the plan who asked not to be named because the financial details were private.