KKR Grows Self-Storage Portfolio With Five New Acquisitions
May 12 2022 - 4:15PM
Business Wire
KKR, a leading global investment firm, today announced the
acquisition of five new self-storage properties totaling
approximately 4,100 units for an aggregate purchase price of
approximately $98 million. The properties were acquired from four
different sellers in three separate transactions and are located
in: Phoenix, Arizona; Dallas, Texas; San Antonio, Texas; and Palm
City, Florida.
“We continue to expand our portfolio of high-quality
self-storage properties across Sunbelt markets that are
experiencing strong population growth and in-migration,” said Ben
Brudney, a Director in the Real Estate group at KKR. “We track
sector fundamentals closely and believe these assets are located in
submarkets that are well positioned to benefit from outsized demand
over the medium to long term.”
The purchases were made through KKR’s Americas opportunistic
equity real estate fund, KKR Real Estate Partners Americas III.
Since launching a dedicated real estate platform in 2011, KKR
has grown its real estate assets under management to approximately
$59 billion across the U.S., Europe and Asia Pacific as of March
31, 2021. KKR’s global real estate team consists of over 135
dedicated investment professionals, spanning both the equity and
credit business, across 13 offices and 10 countries.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220512006014/en/
Media: Miles Radcliffe-Trenner 212-750-8300
media@kkr.com
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