Wragge & Co's Real Estate group has completed its first deal for new client Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, KKR), one of the leading global investment firms. It acted for entities advised by or affiliated with KKR, including KKR Financial Holdings LLC (NYSE: KFN), on a 430,000 sq ft retail park portfolio acquisition from investment firm Resolution Property for an undisclosed sum.

Partner John Burns and a cross-firm team advised KKR on the deal, which is the organisation's first real estate acquisition in Europe.

John Burns said: "We are privileged to have worked with KKR's team on its first direct real estate investment in Europe. The transaction drew on our full service expertise, sector know-how and commercial approach and we are pleased to have been able to play a role in its success."

The Wragge & Co team included commercial investment directors David Pettingale and Michael Twining, engineering and construction consultant Stephen Williams and planning associate Toni Weston. They worked closely with KKR director Guillaume Cassou, as well as Christopher Daniel, director of Quadrant Estates, the asset manager retained for this project.

NYSE-listed KKR is one of the leading global investment firms and as at March 2013 has $83.5 billion in assets under its management. With 18 offices worldwide, it provides investment services to international clients in private, public and capital markets.

Resolution Property is a real estate investment firm which focuses on the development of UK and European property assets. Since being established in 1998 it has acquired, developed, financed and disposed of more than €2.6 billion of assets across all sectors. Berwin Leighton Paisner and Hogan Lovells advised Resolution Property on the deal.

Wragge & Co's 186-lawyer real estate practice offers a full service across the real estate sector. An international team, it acts for a wide range of investors, developers, major corporates, financial institutions, housing associations and local authorities.

Highlights from the past six months include advising regeneration specialist St. Modwen on a £450 million development project at Swansea University. It also supported Intu Properties plc on its £250 million acquisition of Midsummer Place Shopping Centre in Milton Keynes.