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KKR has expanded its self-storage real estate portfolio with the acquisition of three Class A properties in Denver and Nashville, adding over 2,000 units. The purchases were made through KKR Real Estate Partners Americas III, enhancing KKR's presence in fast-growing metropolitan areas. The properties were built between 2017 and 2018, aligning with KKR's strategy to focus on high-quality assets in growth markets. Since 2011, KKR has raised approximately $41 billion in real estate assets under management, emphasizing its commitment to expanding its real estate division.
Positive
Acquisition of three Class A self-storage properties enhances KKR's portfolio.
Addition of over 2,000 units indicates significant growth potential.
Focus on high-quality assets in fast-growing metropolitan areas like Denver and Nashville.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
KKR, a leading global investment firm, today announced that KKR has added to its national portfolio of self-storage real estate with the purchase of three Class A properties in Denver and Nashville. The properties were acquired by KKR’s Americas opportunistic equity real estate fund, KKR Real Estate Partners Americas III, in two separate transactions with two separate sellers.
The two Denver properties were completed in 2017 and 2018 and the Nashville property was completed in 2018. The purchases add over 2,000 units to KKR’s self-storage portfolio and further expand the firm’s footprint in two of the U.S.’s fastest growing metropolitan areas.
“Denver and Nashville are important destinations for our self-storage investing strategy and we are excited to grow our footprint in both markets with the purchase of three modern, well-located properties,” said Ben Brudney, a Director in the real estate group at KKR. “We are continuing our focus on acquiring high-quality assets in growth markets and working with our team of experienced operators to deliver a best-in-class user experience for self-storage customers.”
The transactions follow KKR’s announcement in December 2021 of the launch of Alpha Storage Properties (ASP) to acquire and manage a portfolio of self-storage assets in high-growth markets and strategic infill locations across the country. KKR’s self-storage portfolio currently includes properties serving the Austin, Atlanta, Charlotte, Denver, Inland Empire, Nashville, Orlando, Phoenix, St. Petersburg and Washington D.C. markets.
Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $41 billion across the U.S., Europe and Asia as of December 31, 2021. The global real estate team consists of over 135 dedicated investment professionals, spanning both the equity and credit businesses.
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.
