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KKR Expands Industrial Portfolio by Nearly 2M SF
KKR Real Estate Select Trust (KREST) acquired two distribution properties totaling more than 1.9 million square feet in the Charleston, SC and Chicago markets, growing its logistics portfolio to approximately six million square feet. Deal terms weren’t disclosed.
The additions to KREST’s portfolio include a one-million-square-foot warehouse within the Charleston Trade Center in Summerville, SC; and a three-building, 920,000-square-foot complex in Bolingbrook, IL.
KREST acquired the Summerville property from the developer, a joint venture between The Keith Corporation and Singerman Real Estate. JLL represented the seller.
The Bolingbrook property, including a cross-dock warehouse, a rear-load warehouse and a truck terminal, was also acquired from its developer, Crow Holdings Industrial. CBRE represented the seller.
“High-quality logistics properties continue to be a key conviction for KREST as part of our strategic focus on investing in thematically driven, income-oriented real estate,” said Roger Morales, KKR’s head of real estate acquisitions in the Americas.
Photo credit: Benton Henry Photography.
- ◦Sale/Acquisition
