KKR Expands Real Estate Industrial Portfolio in Inland Empire with a New Acquisition
KKR has acquired a 505,906 square foot industrial distribution property in Bloomington, California, fully leased to an investment-grade tenant on a long-term basis. This acquisition enhances KKR's industrial real estate footprint in the Inland Empire to nearly four million square feet. The property, completed in 2019, features modern amenities, including a 36’ clear height. KKR's investment strategy aligns with increasing e-Commerce demands for advanced distribution centers in key locations. As of March 31, 2021, KKR's real estate assets under management amounted to approximately $28 billion across various regions.
- Acquisition of a fully leased, modern distribution property enhances portfolio.
- Increases KKR's industrial real estate footprint in the Inland Empire to nearly 4 million square feet.
- Acquisition aligns with e-Commerce demand for state-of-the-art distribution centers.
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KKR, a leading global investment firm, today announced the acquisition of a 505,906 square foot industrial distribution property in Bloomington, California. Completed in 2019, the property has state-of-the-art physical features including 36’ clear height and a 185’ deep truck court.
The property was
Strategically located in close proximity to Interstate-10, a major cross-country trucking artery, the property increases KKR’s industrial real estate footprint in the Inland Empire to nearly four million square feet.
“We are excited to grow our industrial portfolio in the Inland Empire with this modern, well-located asset,” said Ben Brudney, a Director in the Real Estate group at KKR. “There continue to be attractive opportunities to service e-Commerce demand through state-of-the-art distribution centers like this one, particularly in highly infill locations with strong demand and limited capacity for new supply.”
KKR is making the investment through its core plus real estate strategy. Across its funds, KKR now owns 34 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 its real estate assets under management to approximately
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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.
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