KKR RE or REIB

KKR RE if you know you want RE. 

Top REGL groups (BAML/MS/GS) will get you looks from any REPE funds of your choice, plus the option for corporate PE/other areas of finance if you later decide that RE is not for you

May be an unpopular opinion, but if you are asking that question I would take the REIB role. The great thing about REGL groups at BBs is that you get exposure to a ton of different types of deals and companies. You can work on asset-level transactions for trophy assets or M&A deals for real estate companies across all verticals. I was in this position a year ago and chose a REGL group over a KKR-type REPE role. If you are unsure of exactly you want to do, IB gives you the time and exposure to figure out what you're interested in (which was the reason I chose it). 

Also the RE people may tell you it is difficult to exit to these top shops. It isn't at all, if you are at a top REGL group you will be contacted by headhunters and leaving is not that difficult. Is the IB experience that applicable? Depends on deal exposure, but companies know that you can grind hours and have modeling skills. Just my advice and will probably get MS for it, but I wouldn't discount the value of a few years in REIB

Crazy advice your getting on here, take KKR and don’t look back.

"Is KKR Real Estate good?" WTF. 

Don't ask this kind of question unless you have offers from both. If you are good enough to secure both, then you are already educated enough to come up with your own answer. Before thinking about which phantom offer to take, go apply first and see if they even offer you a chance for the screening round. 

Getting fucking sick of this dumb ass question in all forums

True REIB groups and guys are not “RE guys”. People from these groups (the BAML, MS, etc.) get poached for mega fund roles or even REPE smaller roles is because they are ridiculous smart, experienced in working long hours and hard. RE is not rocket science so hiring these guys with a high level finance background and some RE exposure sprinkled in, is more than enough and better than some candidate who took an Argus class for an hour and calls himself a “RE expert”. 
 

That said, I would 100% take the KKR role if you have a strong interest in being and staying in RE. If you’re in REIB and want to stay in RE and move out, KKR IS the exit op.

If I'm a young gun out of school I'm doing REIB, provided its a quality group. Keep your options open. Not to say KKR RE won't give you optionality, but REIB might give you a broader view.