02:10 PM EDT, 06/07/2024 (MT Newswires) -- KKR (KKR) bought about $50 million in shares in its KKR Real Estate Select Trust, according to a regulatory filing.

About 1.96 million shares were purchased at $25.56 apiece on Tuesday, the filing said.

KKR separately pledged to cancel up to 7.7 million of shares it owns in KKR Real Estate Select Trust if the REIT's value is less than $27 a share on June 1, 2027, KKR said in a June 4 letter to the REIT's shareholders.

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