NEW YORK--(BUSINESS WIRE)--KKR, a leading global investment firm, today announced the acquisition of a 178,400 square foot industrial property in Tampa, Florida.
The asset is located in a highly infill location in East Tampa, approximately fifteen minutes from Tampa’s vibrant downtown, and was newly built in 2020 with state-of-the-art physical features including 32’ clear height. The property was 100% leased at acquisition to three tenants.
The acquisition expands KKR’s industrial real estate footprint in the greater Tampa market to 1.4 million square feet.
“We are long term believers in Florida’s continued growth story,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas. “The demographic growth in Tampa in particular has been impressive and we are delighted to add this well located, high quality asset to our portfolio.”
KKR is making the investment through its Americas opportunistic equity real estate strategy. Across its funds, KKR owns nearly 34 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 its real estate assets under management to approximately $28 billion across the U.S., Europe and Asia Pacific as of December 31, 2020 (pro forma to include Global Atlantic’s assets following KKR’s acquisition of Global Atlantic on February 1, 2021). 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.
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.