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KKR Divests $560M-Plus of Industrial Across Eastern and Central U.S.
KKR has completed the sale of more than five million square feet of industrial warehouse and distribution properties for a total aggregate value of more than $560 million. The dispositions were completed through five discrete transactions with five separate buyers. The fifth and final sale closed on Sept. 29.
The sales, primarily consisting of assets in KKR’s Real Estate Partners Americas II fund, included more than 50 industrial buildings located in high-growth, infill markets across Atlanta, Dallas-Fort Worth, Chicago, the Lehigh Valley and Central Pennsylvania. Since 2018, across its investment strategies in the U.S., KKR has acquired more than 60 million square feet of logistics assets. Including these five sales, KKR has sold approximately 21 million square feet since 2021.
“Industrial real estate is the largest exposure across our U.S. opportunistic and core plus real estate strategies, and we have built a dedicated investment and operating platform focused on this sector that enables us to own great properties at scale,” said Roger Morales, partner and head of real estate acquisitions in the Americas at KKR. “These sales demonstrate the attractive bid that exists for a quality assets in supply-constrained locations.”
- ◦Sale/Acquisition
