KKR has sold a portfolio of distribution properties located in Chicago to a global investment manager for an undisclosed price.
The portfolio consists of 13 assets with approximately 1.7 million square feet (SF) of warehouse space and average clear heights of 24 feet.
The properties are located in strategic infill locations across the Chicago metropolitan area.
“We continue to see strong demand for well-located, last mile logistics real estate across Chicago,” said Ben Brudney, a Director in the Real Estate group at KKR.
“We are very pleased to deliver this portfolio of high-quality assets to new owners who share our conviction in the market,”
KKR originally acquired the properties in December 2020 through its KKR Real Estate Partners Americas II fund.
Across its funds, KKR has committed or acquired over $7 billion of U.S. logistics assets since 2018 and currently owns over 45 million SF of industrial real estate in strategic locations across major metropolitan areas nationwide.