KKR has acquired seven industrial distribution buildings totaling nearly 1.8 million square feet (SF) serving the Dallas Forth Worth and Atlanta markets.
The company paid approximately $272 million for the assets in three separate transactions to the different sellers.
All three purchases were made through KKR’s Americas opportunistic equity real estate fund, KKR Real Estate Partners Americas III.
The purchases were completed over the past two months and include high quality Class A assets in Dallas, Fort Worth and Atlanta – all high growth markets benefitting from strong and diverse tenant demand. The tenant mix across the properties includes a leading ecommerce business, global logistics and manufacturing companies and a national health and beauty retailer.
“We are pleased to add these high quality assets to our industrial portfolio,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We continue to see strong demand in fast growing Sunbelt markets, particularly for new, state-of-the-art, Class A product.”