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KKR Acquires Two Industrial Distribution Properties for USD 260m
Monday 06 July 2020

US-based investment firm KKR has acquired two industrial distribution properties totaling approximately 2.5m square feet for an aggregate purchase price of approximately USD 260m to strengthen core plus real estate strategy, the company said.

The newly acquired properties are located in major markets of Chicago and Charlotte. Both are fulfillment centres that were 100% leased at acquisition to a high quality, investment grade tenancy on a long term basis. The properties were acquired through separate transactions with two different sellers.

KKK said it believes the current environment will lead to continued acceleration of e-commerce penetration which drives demand for large modern distribution centres like the ones it has acquired. Logistics real estate represents a growth opportunity as more and more US consumers migrate to shopping online.

KKR owns over 12m square feet of industrial property in strategic locations near major metropolitan areas across the US.

Since launching a dedicated real estate platform in 2011, KKR Real Estate has grown to approximately USD 11.8bn in AUM across the US, Europe and Asia as of March 31, 2020.

The global real estate team consists of over 85 dedicated investment professionals, spanning both the equity and credit businesses.

KKR manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds.
Date Published: 06/07/2020