KKR Expands Industrial Real Estate Portfolio in the Inland Empire

Rhea-AI Summary

KKR, a global investment firm, has acquired 6300 Providence Way, a Class A warehouse in Eastvale, California, totaling approximately 281,000 square feet. This facility, delivered in 2017, features 32-foot clear heights, a 148-foot truck court, and strategic access to major trucking routes. The purchase enhances KKR's presence in the Inland Empire, further solidifying its commitment to high-quality industrial real estate investments, having allocated around $7 billion in logistics assets since 2018.

Positive

• Acquisition of a prime Class A warehouse enhances KKR's industrial portfolio in a strategic location.
• Total investment in logistics assets exceeds $7 billion since 2018, showing strong market commitment.
• The facility's proximity to major transportation routes and airports supports operational efficiency.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- KKR, a leading global investment firm, today announced that KKR has purchased 6300 Providence Way, a Class A warehouse property located in Eastvale, California, a highly infill submarket of the Inland Empire.

The building was delivered in 2017 and totals approximately 281,000 square-feet (SF) of warehouse space with 32-foot clear heights, a 148-foot truck court and ample trailer parking and dock high doors. 6300 Providence Way is located in close proximity to I-15 and offers access to major trucking routes, as well as being approximately one hour from Los Angeles International Airport, the Port of Los Angeles and The Port of Long Beach.

“We are pleased to announce the purchase of 6300 Providence Way, an acquisition that adds to our Inland Empire footprint,” 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 continuing to invest in high-quality industrial real estate in strategically located, irreplaceable locations which we believe will continue to remain a mission-critical part of the supply chain for businesses of all sizes.”

KKR acquired the property through KKR Real Estate Partners Americas III, KKR’s Americas opportunistic equity real estate fund. 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. metropolitan areas.

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/20220707005852/en/

Miles Radcliffe-Trenner and Emily Cummings

212-750-8300

media@kkr.com

Source: KKR

FAQ

What is KKR's latest warehouse acquisition?

KKR has acquired 6300 Providence Way, a Class A warehouse in Eastvale, California.

What are the features of the 6300 Providence Way warehouse?

The warehouse is approximately 281,000 square feet with 32-foot clear heights and a 148-foot truck court.

How much has KKR invested in logistics assets since 2018?

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

Where is the 6300 Providence Way warehouse located?

It is located in Eastvale, California, in the Inland Empire region.