KKR has added 9.7m sq ft of industrial to its growing portfolio with the acquisition of a $835m (£623m) package of assets from High Street Logistics Properties.
The acquisition takes KKR’s US logistics portfolio to around 30m sq ft.
The portfolio consists of primarily multitenant industrial assets in Atlanta, Baltimore, Chicago, Florida, Dallas and Pennsylvania.
“This acquisition is an important milestone for our business as we continue to invest behind the strong demand fundamentals for warehouses that we see across the country,” said Roger Morales, KKR partner and head of commercial real estate acquisitions in the Americas.
“This is a strategic portfolio for us that deepens our footprint in our existing markets and also expands our holdings into attractive new markets.”
KKR is making the investment through its Real Estate Partners Americas Fund II. Since launching the platform in 2011, KKR has its grown real estate AUM to around $14bn across the US, Europe and Asia.
CBRE advised High Street Logistics Properties on the transaction.
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