NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has acquired two industrial properties – one located in Georgia and one in Texas. The properties serve the Atlanta and Dallas-Fort Worth (“DFW”) metropolitan areas and were acquired in two separate transactions from two separate buyers for a total purchase price of approximately $300 million.
The Atlanta property is located in Buford, GA and consists of four newly constructed Class A industrial warehouses totaling 1.1 million square feet (“SF”). The property is adjacent to I-85, an important regional trucking route. The buildings are leased to a diverse mix of high-quality tenants.
The SouthPointe acquisition includes two Class A industrial warehouse buildings in south Dallas built in 2017 totaling approximately 1.0 million SF. The property is located at the intersection of I-35E and I-20, important arteries for the greater DFW metroplex. The two buildings were 100% leased to three tenants at acquisition.
“We are very pleased to further expand our existing industrial footprints in these two important Sunbelt markets,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We are continuing to invest in strategically located, high-quality industrial real estate where we believe demographic trends and structurally full supply will continue to drive outsized demand.”
The purchases were made through KKR’s Americas core plus equity real estate strategy. Across its funds in the U.S., KKR has committed or acquired approximately $7 billion of logistics assets in the industrial sector since 2018 and currently owns over 45 million SF of industrial real estate in major U.S. metropolitan areas.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005730/en/
Miles Radcliffe-Trenner and Emily Cummings
212-750-8300
media@kkr.com
Source: KKR
