KKR Expands Real Estate Industrial Portfolio in Southern California with New San Diego Acquisition
KKR has acquired Three Piper Ranch, a 330,000 square foot industrial distribution property in San Diego, California, enhancing its industrial real estate portfolio to approximately 2.4 million square feet in the region. The asset, constructed in 2007, is fully leased to five tenants and strategically located near major highways. KKR's investment comes from its Real Estate Partners Americas II Fund, adding to its significant holdings of nearly 32 million square feet of industrial properties across the U.S. as of September 30, 2020.
- Acquisition expands KKR's industrial real estate footprint in Southern California to approximately 2.4 million square feet.
- The property is 100% leased, ensuring immediate rental income from five separate tenants.
- Strategically located with excellent access to major highways, enhancing asset attractiveness.
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KKR, a leading global investment firm, today announced the acquisition of Three Piper Ranch, an industrial distribution property consisting of two buildings totaling approximately 330,000 square feet in San Diego, California. The property expands KKR’s industrial real estate footprint in Southern California to approximately 2.4 million square feet.
The newly acquired property was built in 2007 and features 32’ clear heights. It is located in the Otay Mesa submarket of San Diego with excellent access to SR-125, SR-905, I-805 and I-5. The property was
“We are excited to supplement our footprint in Southern California with the addition of this high quality asset,” said Ben Brudney, a Director in the Real Estate group at KKR. “We continue to like the long-term supply demand fundamentals in San Diego.”
KKR is making the investment through its Real Estate Partners Americas II Fund. Across its funds, KKR owns nearly 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 manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. 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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