KKR Expands Real Estate Industrial Footprint into Denver Market
KKR has successfully acquired Park 12 Hundred, a 290,000 square foot industrial park in Westminster, Colorado, marking its first industrial investment in the Denver market. The property, completed in 2018, benefits from prime location near Interstate 25, allowing quick access to downtown Denver. KKR's investment is part of its Americas opportunistic equity real estate strategy, which now encompasses over 32 million square feet of industrial assets across the U.S. KKR, managing approximately $28 billion in real estate assets globally, aims to capitalize on Denver's strong population growth and industrial demand.
- Acquisition of Park 12 Hundred expands KKR's industrial real estate portfolio.
- Strategic location near downtown Denver enhances asset value.
- KKR's real estate assets under management total approximately $28 billion.
- None.
KKR, a leading global investment firm, today announced the acquisition of Park 12 Hundred, a three building industrial park totaling approximately 290,000 square feet in Westminster, Colorado. Located 13 miles from downtown Denver, Park 12 Hundred is KKR’s first industrial real estate acquisition in the Denver market, which has seen high growth supported by favorable demographic trends over the past several years.
The property was completed in 2018 with state of the art features and is located near Interstate 25, a major arterial thoroughfare that provides access to downtown Denver in less than thirty minutes. KKR acquired the asset directly from the developers, Conor Commercial Real Estate and WHI Real Estate Partners. Will Strong of Cushman & Wakefield assisted in the transaction’s execution.
“We are excited to expand our industrial real estate portfolio into Denver,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas. “Denver is an important market, given its strong population growth and increased industrial demand, and one we’re looking forward to being a part of.”
KKR is making the investment through its Americas opportunistic equity real estate strategy. Across its funds, KKR owns over 32 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 real estate assets under management to approximately
About KKR
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.
i Based on preliminary financial results of Global Atlantic as of December 31, 2020, the estimated value of the Global Atlantic assets to be managed by KKR Real Estate as of the Global Atlantic acquisition closing is approximately
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