HOUSTON & MIDLAND, Texas--(BUSINESS WIRE)-- KKR and Continuum 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 forward."
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.
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John Christiansen, 832-636-8736
Kristi Huller or Cara Kleiman Major, 212-750-8300
Mark Falcone, 720-946-4696
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