KKR Expands Real Estate Industrial Portfolio in Inland Empire with a New Acquisition
August 02 2021 - 7:00AM
Business Wire
KKR, a leading global investment firm, today announced the
acquisition of a 505,906 square foot industrial distribution
property in Bloomington, California. Completed in 2019, the
property has state-of-the-art physical features including 36’ clear
height and a 185’ deep truck court.
The property was 100% leased at acquisition to an investment
grade tenant on a long-term basis. KKR acquired the asset from a
global real estate investment advisor. JLL Capital Markets brokered
the transaction on behalf of the seller.
Strategically located in close proximity to Interstate-10, a
major cross-country trucking artery, the property increases KKR’s
industrial real estate footprint in the Inland Empire to nearly
four million square feet.
“We are excited to grow our industrial portfolio in the Inland
Empire with this modern, well-located asset,” said Ben Brudney, a
Director in the Real Estate group at KKR. “There continue to be
attractive opportunities to service e-Commerce demand through
state-of-the-art distribution centers like this one, particularly
in highly infill locations with strong demand and limited capacity
for new supply.”
KKR is making the investment through its core plus real estate
strategy. Across its funds, KKR now owns 34 million square feet of
industrial property in strategic locations across major
metropolitan areas in the U.S.
Since launching a dedicated real estate platform in 2011, KKR
has grown its real estate assets under management to approximately
$28 billion across the U.S., Europe and Asia Pacific as of March
31, 2021. KKR’s global real estate team consists of over 110
dedicated investment professionals, spanning both the equity and
credit business, across 11 offices and eight countries.
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About KKR
KKR is a leading global investment firm that offers alternative
asset management and 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 The 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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Media:
Cara Major or Miles Radcliffe-Trenner 212-750-8300
media@kkr.com
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