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KKR Spends $234M on Houston Industrial Park
KKR completed the acquisition of Park 8Ninety, a 12-building industrial logistics park in Houston, Texas, from Artis Real Estate Investment Trust for approximately $234 million.
The approximately 1.8 million-square-foot (SF) master-planned park was completed in phases between 2017 and 2022. The 127-acre property boasts a diverse mix of Class A single-tenant and multi-tenant modern logistics buildings, with clear heights ranging from 24 to 36 feet, catering to a variety of industrial uses. The park is located in southwest Houston with direct access to Beltway 8 and other major interstate transportation routes.
KKR is acquiring the park through the KKR Real Estate Partners Americas III fund and capital accounts advised by KKR. Across its strategies in the U.S., KKR has committed or acquired approximately $7.5 billion of logistics assets in the industrial sector since 2018 and currently owns over 48 million SF of industrial real estate in major U.S. metropolitan areas.
