NEW YORK--(BUSINESS WIRE)--KKR, a leading global investment firm, today announced the acquisition of a 505,906 square foot industrial distribution property in Bloomington, California. Completed in 2019, the property has state-of-the-art physical features including 36’ clear height and a 185’ deep truck court.
The property was 100% leased at acquisition to an investment grade tenant on a long-term basis. KKR acquired the asset from a global real estate investment advisor. JLL Capital Markets brokered the transaction on behalf of the seller.
Strategically located in close proximity to Interstate-10, a major cross-country trucking artery, the property increases KKR’s industrial real estate footprint in the Inland Empire to nearly four million square feet.
“We are excited to grow our industrial portfolio in the Inland Empire with this modern, well-located asset,” said Ben Brudney, a Director in the Real Estate group at KKR. “There continue to be attractive opportunities to service e-Commerce demand through state-of-the-art distribution centers like this one, particularly in highly infill locations with strong demand and limited capacity for new supply.”
KKR is making the investment through its core plus real estate strategy. Across its funds, KKR now owns 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 March 31, 2021. KKR’s global real estate team consists of over 110 dedicated investment professionals, spanning both the equity and credit business, across 11 offices and eight countries.
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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.