KKR Grows Industrial Footprint in Denver with Purchase of Park 70

Rhea-AI Summary

KKR has acquired Park 70, a Class A industrial building in Aurora, Colorado, totaling approximately 164,000 square feet. This marks KKR's third industrial real estate acquisition in the Denver market this year, executed through its Americas opportunistic equity real estate strategy. Completed in 2020, Park 70 features a 32-foot clear height and is strategically located near major highways. KKR continues to grow its industrial real estate portfolio, owning over 35 million square feet across the U.S. and managing approximately $32 billion in real estate assets worldwide as of mid-2021.

Positive

• KKR's acquisition of Park 70 expands its industrial real estate portfolio in the desirable Denver market.
• The property is strategically located near major transportation routes, enhancing its potential for long-term value.
• KKR has a strong track record with over 35 million square feet of industrial property across major U.S. metropolitan areas.

Negative

• None.

KKR, a leading global investment firm, today announced that KKR has acquired Park 70, a Class A industrial building totaling approximately 164,000 square feet located in Aurora, Colorado. The purchase is KKR’s third industrial real estate acquisition in the Denver market this year and was made through KKR’s Americas opportunistic equity real estate strategy.

Park 70 was completed in 2020 and features 32’ clear height and 185’ truck court depth. It is located 20 miles from downtown Denver at the intersection of Interstate 70 and E-470 in Denver’s northeast industrial submarket.

“We continue to view the Denver market as a long-term winner with attractive demographic tailwinds,” said Ben Brudney, a Director in the Real Estate group at KKR. “We are thrilled to expand our industrial real estate portfolio in the market with this high quality asset.”

Across its funds, KKR owns over 35 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 $32 billion across the U.S., Europe and Asia as of June 30, 2021. KKR’s global real estate team consists of over 110 dedicated investment professionals, spanning both the equity and credit business, across 11 offices and eight countries.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210809005198/en/

FAQ

What is Park 70 acquired by KKR?

Park 70 is a Class A industrial building in Aurora, Colorado, totaling approximately 164,000 square feet.

How many industrial properties has KKR acquired in Denver this year?

KKR has acquired three industrial properties in the Denver market this year.

What is the significance of KKR's acquisition of Park 70?

The acquisition enhances KKR's industrial real estate portfolio in a market with attractive demographic tailwinds.

What is KKR's total real estate assets under management?

As of mid-2021, KKR manages approximately $32 billion in real estate assets across the U.S., Europe, and Asia.

What are the features of Park 70?

Park 70 features a 32-foot clear height and is located near major highways, enhancing its logistical advantages.