KKR Expands Real Estate Industrial Footprint into Denver Market

NEW YORK--(BUSINESS WIRE)--KKR, a leading global investment firm, today announced the acquisition of Park 12 Hundred, a three building industrial park totaling approximately 290,000 square feet in Westminster, Colorado. Located 13 miles from downtown Denver, Park 12 Hundred is KKR’s first industrial real estate acquisition in the Denver market, which has seen high growth supported by favorable demographic trends over the past several years.

The property was completed in 2018 with state of the art features and is located near Interstate 25, a major arterial thoroughfare that provides access to downtown Denver in less than thirty minutes. KKR acquired the asset directly from the developers, Conor Commercial Real Estate and WHI Real Estate Partners. Will Strong of Cushman & Wakefield assisted in the transaction’s execution.

“We are excited to expand our industrial real estate portfolio into Denver,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas. “Denver is an important market, given its strong population growth and increased industrial demand, and one we’re looking forward to being a part of.”

KKR is making the investment through its Americas opportunistic equity real estate strategy. Across its funds, KKR owns over 32 million square feet of industrial property in strategic locations across major metropolitan areas in the U.S.

Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $28 billion across the U.S., Europe and Asia Pacific, as of December 31, 2020.ⁱ KKR’s global real estate team consists of approximately 100 dedicated investment professionals, spanning both the equity and credit business, across 11 offices and eight countries.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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 and on Twitter @KKR_Co.

ⁱ Based on preliminary financial results of Global Atlantic as of December 31, 2020, the estimated value of the Global Atlantic assets to be managed by KKR Real Estate as of the Global Atlantic acquisition closing is approximately $12 billion.