Global investment firm KKR announced that it has acquired a portfolio of six well-located, Class A industrial logistics properties in major U.S. Gateway and Sunbelt markets for approximately $377 million.
These six modern industrial properties possess an average vintage of 2014 and feature 35-foot average clear heights. And the warehouses feature other state-of-the-art characteristics that make them relevant for the evolving needs of logistics. This portfolio is 100% leased to a high-quality tenant mix and the assets are strategically located in infill submarkets across several major markets, including Seattle, Atlanta, Philadelphia, New Jersey and the San Francisco Bay Area.
This purchase follows KKR’s recent industrial warehouse investments in Nashville, Dallas and Houston. And the addition of this approximately 2 million square foot (SF) portfolio brings KKR’s total warehouse acquisitions in the U.S. to nearly six million SF since the start of the year. KKR is making this investment through capital accounts advised by KKR.
KKR’s global real estate business invests in high-quality, thematic real estate through a full range of scaled equity and debt strategies. Overseeing $75 billion in assets as of June 30, 2024, KKR’s more than 150 dedicated real estate investment and asset management professionals across 16 offices apply the capabilities and knowledge of KKR’s global platform to deliver outcomes for clients and investors.
KEY QUOTE:
“We are excited to purchase these six well positioned properties as we continue to grow our national portfolio of well-diversified, carefully selected industrial assets. We think high quality assets in infill locations near diverse demand drivers and accommodative labor forces will be increasingly difficult to reproduce in the coming years.”
- Ben Brudney, a Managing Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States
