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KKR Bulks Up Industrial Portfolio with Buy from Hines
KKR has acquired two industrial distribution properties in Texas totaling approximately 1.8 million square feet for an aggregate purchase price of approximately $171 million. The seller was Hines, which developed both properties.
The newly acquired properties are located in the Dallas and Houston metro areas. Dating from 2019, the properties were 100% leased at acquisition to two different investment-grade tenants on a long-term basis.
“As more consumers migrate to shopping online and expect a seamless delivery experience, the demand for modern logistics real estate in major markets continues to grow,” said Roger Morales, KKR partner and head of commercial real estate acquisitions in the Americas.
The two properties are the latest industrial assets acquired by New York City-based KKR’s core-plus real estate strategy, growing its total industrial portfolio to approximately 7.2 million square feet.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition