KKR Acquires Seven Industrial Buildings Serving Dallas Forth Worth and Atlanta Markets for Approximately $272 Million

Rhea-AI Summary

KKR has acquired seven industrial distribution buildings in Dallas-Fort Worth and Atlanta, totaling 1.8 million square feet for about $272 million. The transactions involved high-quality Class A assets in fast-growing markets with a diverse tenant mix, including e-commerce and logistics companies. Since 2018, KKR has invested approximately $7 billion in logistics assets and currently manages over 45 million square feet of industrial real estate in the U.S. The firm has grown its real estate assets under management to $41 billion globally.

Positive

• Acquisition of high-quality Class A assets in fast-growing markets.
• Diverse tenant mix including e-commerce and logistics companies.
• KKR has committed or acquired approximately $7 billion in logistics assets since 2018.
• Currently owns over 45 million square feet of industrial real estate.

Negative

• None.

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.

About KKR

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220428006075/en/

Miles Radcliffe-Trenner

212-750-8300

media@kkr.com

Source: KKR

FAQ

What did KKR acquire recently?

KKR acquired seven industrial distribution buildings totaling nearly 1.8 million square feet for approximately $272 million.

What is the significance of KKR's recent acquisitions?

The acquisitions enhance KKR's portfolio in high-growth markets and include a diverse mix of tenants.

How much has KKR invested in logistics assets since 2018?

KKR has committed or acquired approximately $7 billion in logistics assets since 2018.

What is the current size of KKR's industrial real estate portfolio?

KKR currently owns over 45 million square feet of industrial real estate in major U.S. markets.

What is KKR's total real estate assets under management?

As of December 31, 2021, KKR's real estate assets under management amount to approximately $41 billion globally.