KKR has acquired Park 8Ninety, a 12-building industrial logistics park in Houston, Texas for $234 million. The seller was Artis REIT.
The approximately 1.8 million-square-foot master-planned park was completed in phases between 2017 and 2022. The 127-acre property has a diverse mix of single-tenant and multi-tenant logistics buildings, with clear heights ranging from 24 to 36 feet, catering to a variety of industrial uses.
"Park 8Ninety is a high-quality, well-designed, multi-tenant park with a diverse and staggered rent roll," said Ben Brudney, a managing director in the Real Estate group at KKR who oversees the firm's industrial investments in the US.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
