NEW YORK–(BUSINESS WIRE)–April 28, 2022–
KKR, a leading global investment firm, today announced the purchase of seven industrial distribution buildings totaling nearly 1.8 million square feet (SF) serving the Dallas Forth Worth and Atlanta markets . The assets were acquired in three separate transactions with different vendors for an aggregate purchase price of approximately $272 million.
The purchases were completed within the past two months and include high-quality Class A assets in Dallas, Fort Worth and Atlanta – all high-growth markets benefiting from strong and diverse tenant demand. The mix of tenants in the properties includes a leading e-commerce company, global logistics and manufacturing companies, and a national health and beauty retailer.
“We are delighted to add these high-quality assets to our industrial portfolio,” said Ben Brudney, director of KKR’s real estate group who oversees the company’s industrial investments in the United States. “We continue to see strong demand in Sunbelt’s fast-growing markets, particularly for new, state-of-the-art Class A products.”
All three purchases were made through KKR’s opportunistic equity real estate fund for the Americas, KKR Real Estate Partners Americas III. Across its U.S. funds, KKR has committed or acquired approximately $7 billion in industrial logistics assets since 2018 and currently owns more than 45 million square feet of industrial real estate in key MSAs. Americans.
Since launching a dedicated real estate platform in 2011, KKR has grown its real estate assets under management to approximately $41 billion in the United States, Europe and Asia as of December 31, 2021. The global real estate team consists of over of 135 dedicated investment professionals, covering both equity and credit activities.
KKR is a leading global investment firm providing alternative asset management solutions as well as capital markets and insurance solutions. KKR aims to generate attractive returns on investment by following a patient and disciplined investment approach, employing world-class people and supporting the growth of 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 pension, life insurance 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 more information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR—Co.
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CONTACT: Miles Radcliffe-Trenner
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK GEORGIA TEXAS
SECTOR KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & REAL ESTATE
Copyright BusinessWire 2022.
PUBLISHED: 04/28/2022 16:15 / DISK: 04/28/2022 16:17
Copyright BusinessWire 2022.