KKR Announces Sale of Chicago Industrial Warehouse Portfolio
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NEW YORK--(BUSINESS WIRE)--
KKR, a leading global investment firm, today announced that KKR has sold a portfolio of distribution properties located in Chicago to a global investment manager. The portfolio consists of 13 assets with approximately 1.7 million square feet (SF) of warehouse space and average clear heights of 24 feet. The properties are located in strategic infill locations across the Chicago metropolitan area.
“We continue to see strong demand for well-located, last mile logistics real estate across Chicago,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We are very pleased to deliver this portfolio of high-quality assets to new owners who share our conviction in the market.”
KKR originally acquired the properties in December 2020 through its KKR Real Estate Partners Americas II fund. Across its funds, KKR has committed or acquired over $7 billion of U.S. logistics assets since 2018 and currently owns over 45 million SF of industrial real estate in strategic locations across major metropolitan areas nationwide.
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.
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