Industrial property.
NEW YORK CITY – KKR has acquired four industrial properties totaling an estimated 641,400 square feet. The assets will join KKR's Alpha Industrial Properties portfolio, bringing the total portfolio to ten million square feet across eight high-growth markets in the U.S.
KKR executed the investments through its Real Estate Partners Americas Fund II. The properties are located in major Metropolitan Statistical Areas that include Atlanta, GA, Inland Empire, Calif., and Orlando, Fl.
"We are excited to increase our footprints in these high growth MSAs," said Roger Morales, KKR member and head of commercial real estate acquisitions in the Americas, in a prepared statement. "We believe infill, multi-tenant assets in major MSAs like these will experience strong rent growth given the continued strength of industrial supply-demand fundamentals."
Since launching its real estate platform in 2011, KKR has invested approximately $9 billion in capital across over 200 real estate transactions in the U.S., Europe and Asia as of September 30, 2019.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
