KKR Expands Boston Presence with First Downtown Office at International Place
- Leading global investment firm signs 15-year lease at Two International Place to bolster capabilities and support global operations
- 132,529-square-foot commitment marks major milestone for Boston's office market
The Chiofaro Company, in partnership with PGIM's real estate business, today announced that KKR, a leading global investment firm, has signed a 15-year lease for 132,529 square feet at Two International Place, representing a significant milestone for Boston's office market. KKR will relocate to the new office space to accommodate its growth in Boston, expanding its U.S. footprint, and bolstering its capabilities across key strategic areas to support its global operations. Currently, more than 300 KKR employees are based in the Boston area, primarily serving the firm's insurance business.
This signing coincides with a major milestone for the property, the $100 million reinvestment of International Place, a transformative project designed to enhance the tenant experience and further cement the property's standing as one of the most vibrant and sought-after destinations in New England. Two International Place offers tenants expansive views of Boston's waterfront with access to a private roof deck.
"We are excited to establish our new Boston office at International Place and intend to grow this location over time to help us deliver on the firm's future goals," said Ryan Stork, Chief Operating Officer, KKR. "We see great potential for Boston to support the broader firm like our offices in Gurugram and Dublin. Our investment in Boston is consistent with our desire to have a U.S.-based location in a similar vein."
Burke Malek, Head of KKR's Boston office, commented: "As we've outgrown our existing space, this strategic move downtown positions us to invest in local talent and expand our operating platform to support our U.S. and global operations. The combination of a top-tier office space with world-class amenities and unmatched location made this the ideal choice for our growing team."
The transaction was brokered by Jones, Lang LaSalle, Newmark and Cushman & Wakefield, reflecting a collaborative effort to complete one of Boston's most significant recent transactions.
"KKR's decision to plant a substantial flag at International Place is a major milestone for both the building and Boston's business community," said Don Chiofaro Jr., Vice President of The Chiofaro Company. "As one of the most prominent investment firms in the world, KKR's arrival further validates our vision for International Place as the preeminent address for global business leaders. This move reflects the resurgence of office demand in the downtown market, and the value tenants continue to place on locating in the highest-quality work environments. We are proud to have partnered with PGIM Real Estate to elevate International Place to deliver a best-in-class office location for today and tomorrow's business leaders."
"International Place with its best-in-class location and amenities fits the profile that high-caliber tenants continue to seek," said Joanna Mulford, Managing Director and Senior Portfolio Manager for PRISA, PGIM's flagship core equity real estate strategy. "We remain confident in the long-term strength and appeal of Boston's office market, and through this opportunity, we look forward to cultivating new tenant relationships and supporting exceptional workplace experiences."
KKR's commitment comes as PGIM and The Chiofaro Company near completion of the $100 million reinvestment in their flagship 1.8 million-square-foot office property. The redevelopment includes a complete transformation of the ground level's lobbies and entrances, and the Aries Club – a 25,000-square-foot, state of the art amenity center.
About International Place
Developed by The Chiofaro Company and designed by renowned architect Philip Johnson, International Place is among Boston's most recognized office addresses, offering 1.8 million square feet of Class A office and retail space across two towers. Situated along the Rose Kennedy Greenway across on the city's downtown waterfront, the dual towers have maintained a prominent profile on the city's skyline for decades. In 2024 The Chiofaro Company and PGIM Real Estate with the help of global architecture firm Gensler embarked on a significant reinvestment in International Place to create an unparalleled workplace experience.
About The Chiofaro Company
The Chiofaro Company is a privately held, independent firm engaged in the development, investment, leasing, management, and ownership of high-quality real estate properties. As one of New England's leading developers and operators of first-class commercial projects, our success is driven by an uncompromising focus on creating and maintaining workplaces of extraordinary value that enhance the competitiveness of our tenants and clients.
About PGIM
PGIM, the global asset management business of Prudential Financial, Inc. ((PRU) is built on a 150-year legacy of strength, stability, and disciplined risk management through more than 30 market cycles. Managing more than $1.44 trillion in assets,1 PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions — including fixed income, equities, real estate and other retail investment vehicles. With 1,450+ investment professionals across 42 offices in 19 countries, we serve retail and institutional clients worldwide. For more information visit pgim.com.
PGIM's real estate business is the world's third-largest real estate investment manager, with $213 billion in gross assets under management and administration2, and real estate professionals located in 30+ cities worldwide. Through our full suite of real estate equity and debt solutions, we aim to achieve exceptional outcomes on behalf of investors and borrowers. Our uncompromising commitment to building lasting relationships with our clients is founded on trust, transparency, and mutual respect.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.
1 As of June 30, 2025.
2 As of June 30, 2025. Net AUM is $138 billion and AUA is $47.5 billion. PGIM Real Estate is the third-largest real estate investment manager (out of 72 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments' "Largest Real Estate Investment Managers" list published October 2024. This ranking represents AUM as of 6/30/24. Participation in the ranking is voluntary and no compensation is required to participate in the ranking.
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Media Contacts:
For The Chiofaro Company:
Carolyn Spicer
(617) 908-7701
[email protected]
For PGIM:
Josette Thompson
[email protected]
For KKR:
Kenny Juarez or Liidia Liuksila
(212) 750-8300
[email protected]