KKR has successfully sold over five million square feet of industrial warehouse and distribution properties, generating a total value exceeding $560 million. These transactions were carried out through five separate deals with different buyers, with the final sale being completed on September 29th.
The sales included more than 50 industrial buildings located in highly sought-after markets such as Atlanta, Dallas-Fort Worth, Chicago, the Lehigh Valley and Central Pennsylvania. These assets were primarily from KKR’s Real Estate Partners Americas II fund. In recent years alone (since 2018), KKR has acquired over 60 million square feet of logistics assets across various investment strategies in the U.S. With these latest dispositions included, KKR has now divested approximately 21 million square feet since early this year (2021).
According to Roger Morales – Partner and Head of Real Estate Acquisitions for the Americas at KKR – their dedicated investment and operating platform focused on this sector allows them to own high-quality properties at a significant scale. He further adds that these successful sales highlight the strong demand for quality assets situated in supply-constrained locations within the industrial real estate market.
This article was originally published by Connect CRE.
