NEW YORK--(BUSINESS WIRE)--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 sellers for an aggregate purchase price of approximately $272 million.
The purchases were completed over the past two months and include high quality Class A assets in Dallas, Fort Worth and Atlanta – all high growth markets benefitting from strong and diverse tenant demand. The tenant mix across the properties includes a leading ecommerce business, global logistics and manufacturing companies and a national health and beauty retailer.
“We are pleased to add these high quality assets to our industrial portfolio,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We continue to see strong demand in fast growing Sunbelt markets, particularly for new, state-of-the-art, Class A product.”
All three purchases were made through KKR’s Americas opportunistic equity real estate fund, KKR Real Estate Partners Americas III. Across its funds in the U.S., KKR has committed or acquired approximately $7 billion of logistics assets in the industrial sector since 2018 and currently owns over 45 million SF of industrial real estate in major U.S. MSAs.
Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $41 billion across the U.S., Europe and Asia as of December 31, 2021. The global real estate team consists of over 135 dedicated investment professionals, spanning both the equity and credit businesses.
KKR is a leading global investment firm that offers alternative asset management as well as 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 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.