KKR is selling a 14.5 million square foot infill and light industrial portfolio to Oxford Properties for approximately $2.2 billion.
The 149 distribution building portfolio spans 12 major industrial US markets, including the Inland Empire, Dallas, Atlanta, Phoenix, Chicago, Houston, Tampa, Orlando, San Diego and the Baltimore Washington corridor.
For Oxford, the acquisition represents a chance to continue to build a large-scale industrial business in the US. In January 2019, the company acquired IDI Logistics alongside Ivanhoe Cambridge for $3.5 billion. In 2020, it became a significant investor in the US.-based Lineage Logistics, a cold storage logistics provider.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
