HOUSTON & MIDLAND, Texas--(BUSINESS WIRE)--
Partners, announced today that Anadarko
Petroleum Corporation, one of the world's largest independent oil
and natural gas exploration and production companies, has selected Westridge
Commons as the site for its new regional office.
Westridge Commons, a joint venture between Continuum Partners and KKR,
is a new 38 acre mixed-use development in Midland, Texas, that will
offer a variety of retail and residential properties. Anadarko's
purchase marks the first major business owner to build in the new
development, which is ideally located on Andrews Highway, midway between
Fort Worth and El Paso. Construction on Anadarko's property is planned
to begin in February 2018 with completion of its offices and the initial
phase of retail expected in the summer of 2019. Approximately 300
employees initially are expected to be based in the new location.
"This new space is a foundational development for Westridge. We are
proud to partner with Anadarko to further develop it and the community,
and we look forward to welcoming Anadarko's employees to their new home
in 2019," said Paul Wasserman, a senior member of KKR's real estate
team. KKR invested in Westridge Commons from its real estate fund, Real
Estate Partners Americas I.
"About 250 of our employees currently call Midland home, and we are
excited about the future location of our Anadarko campus," said Chad
McAllaster, Anadarko Vice President, Delaware Basin. "Providing a
modern, state-of-the-art work place for our employees in an area that
supports our ability to balance work and family is important. The oil
and natural gas industry has been a fixture of the Midland community for
a long time, and we look forward to being a part of its continued
success and growth for many years to come."
Continuum Partners and KKR will now aim to attract retail tenants to the
site and begin planning the residential housing elements. Torti Gallas &
Partners is the architect providing master planning and Parkhill Smith &
Cooper is providing civil engineering services on the project.
"We are thrilled to be kicking off Westridge Commons with this
outstanding new facility for Anadarko," said Mark Falcone, Founder and
CEO of Continuum Partners. "From the first time we visited Midland, we
believed this specific piece of land was well positioned to create a
dynamic new district which will serve the increasingly sophisticated
demands of this growing city. We are excited to get the project moving
For more information on Westridge Commons, visit www.westridgecommonstx.com.
KKR is a leading global investment firm that manages multiple
alternative asset classes, including private equity, energy,
infrastructure, real estate, credit and, through its strategic manager
partnerships, hedge funds. KKR aims to generate attractive investment
returns by following a patient and disciplined investment approach,
employing world-class people, and driving growth and value creation with
KKR portfolio companies. KKR invests its own capital alongside its
partners' capital and provides financing solutions and investment
opportunities through its capital markets business. References to KKR's
investments may include the activities of its sponsored funds. For
additional information about KKR & Co. L.P. (NYSE:KKR), please visit
KKR's website at www.kkr.com and
on Twitter @KKR_Co.
About Continuum Partners
Continuum Partners, LLC is a progressive development firm specializing
in building urban mixed-use developments that create successful
pedestrian environments and integrate effectively with the surrounding
urban fabric. Founded in Denver, Colorado, in 1997 with a deliberate
mission to create sustainable human habitats of extraordinary character
and enduring value, Continuum Partners has established itself as a
national leader in urban, mixed-use, large-scale projects. Learn more at www.continuumpartners.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171108006668/en/
John Christiansen, 832-636-8736
Huller or Cara Kleiman Major, 212-750-8300
Mark Falcone, 720-946-4696
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