KKR Grows Real Estate Industrial Portfolio with Four New Acquisitions in Atlanta
November 23 2020 - 7:00AM
Business Wire
Acquires 1.6 million SF from Four Separate
Sellers to Expand KKR’s Industrial Footprint in Atlanta
KKR, a leading global investment firm, today announced the
acquisition of four industrial distribution properties across the
greater Atlanta metropolitan area for an aggregate purchase price
of approximately $136 million.
The newly acquired properties consist of three high quality,
shallow-bay, last mile distribution properties with an average
vintage of 2006. The fourth property is a large, state of the art
fulfillment center completed in 2020 which is leased to high
quality, investment grade tenant on a long term basis. Together the
four properties represent 1.6 million square feet. The properties
were acquired from four different sellers.
“These acquisitions are part of our ongoing effort to expand our
industrial portfolio across high growth Sunbelt markets,” said
Roger Morales, KKR Partner and Head of Commercial Real Estate
Acquisitions in the Americas.
“We are excited to increase our footprint in Atlanta, given the
markets’ strong supply-demand fundamentals and long-term growth
trajectory,” said Ben Brudney, a Director at KKR overseeing the
firm’s industrial real estate efforts. “These are important
acquisitions for us as we continue to develop and diversify our
industrial footprint to include both infill and multi-tenant
assets, as well as larger, single tenant fulfilment centers.”
KKR is making the investment in the three smaller properties
through its Real Estate Partners Americas Fund II. The fourth
property is an investment by KKR’s core plus real estate strategy
and the first industrial investment by the core plus real estate
strategy in Atlanta.
Across its funds, KKR owns over 18 million square feet of
industrial properties in strategic locations in major metropolitan
areas across the U.S. Since launching a dedicated real estate
platform in 2011, KKR has grown real estate AUM to approximately
$14 billion across the U.S., Europe and Asia as of September 30,
2020. The global real estate team consists of over 90 dedicated
investment professionals, spanning both the equity and credit
businesses.
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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version on businesswire.com: https://www.businesswire.com/news/home/20201123005547/en/
Cara Major or Miles Radcliffe-Trenner 212-750-8300
media@kkr.com
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