KKR has agreed to sell a 14.5 million square foot infill and light industrial portfolio to Oxford Properties for approximately $2.2 billion.
“High-quality, infill, consumption-driven industrial portfolios of scale trade infrequently, so this transaction is an important next step for Oxford to build a large-scale industrial business in the United States,” commented Ankit Bhatt, vice president of investments at Oxford Properties, who leads the firm’s U.S. industrial investment strategy. “Growing our U.S. industrial business is one of Oxford’s highest-conviction global investment strategies as we continue to build, buy and invest in the physical infrastructure that serves the digital economy. The acquisition serves as a launchpad for Oxford’s light industrial business, which perfectly complements our big-box development platform, IDI Logistics. We believe scale will become an important differentiator for industrial real estate operators, and we continue to pursue opp