KKR has acquired four industrial distribution properties totaling approximately 641,400 square feet. The assets are part of KKR’s Alpha Industrial Properties portfolio, a 10 million-square-foot portfolio across eight high-growth markets in the United States. The properties were acquired from three different sellers.
The newly acquired properties are located in major metropolitan statistical areas including: Atlanta; Inland Empire, Calif.; and (3) Orlando, Fla. The buildings are all high-quality, shallow-bay, last-mile distribution properties. The average vintage of the properties is 2006, and in-place occupancy at acquisition is 98 percent.
KKR is making the investment through its value-added and opportunistic Real Estate Partners Americas Fund II, which closed in 2018 with $2 billion in fundraising capital.
