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KKR Buys Two Industrial Properties

The Phoenix industrial park totals about 1.3 million square feet and the Atlanta industrial warehouse totals approximately 700,000 square feet. KKR has acquired two newly-constructed Class A assets in Phoenix, Ariz and an industrial warehouse in Atlanta, Ga. The Arizona property is located in Phoenix’s southwest valley industrial submarket and the Georgia property in Palmetto, totaling 700,000 square feet. The purchases were made through KKR Real Estate Partners Americas III, KKR's Americas opportunistic equity real estate fund. Ben Brudney, a director in the real estate group at KKR, said that despite near-term supply headwinds, industrial supply-demand fundamentals will remain attractive in the medium to long term.

KKR Buys Two Industrial Properties

Published : 10 months ago by Cassidy Cavanagh in

KKR has bought an industrial park in Phoenix, Ariz. and an industrial warehouse in Atlanta, Ga. The properties are both newly-constructed Class A assets and were acquired in two separate transactions from two different sellers for an aggregate purchase price of approximately $250 million.

The Arizona property is located in Phoenix’s southwest valley industrial submarket. The property consists of three Class A buildings totaling approximately 1.3 million square feet. The Georgia property is located in Palmetto, totaling 700,000 square feet. The purchases were made through KKR Real Estate Partners Americas III, KKR’s Americas opportunistic equity real estate fund.

“We are pleased to further expand our industrial footprint in these markets, which continue to benefit from attractive growth fundamentals including positive demographic trends and on-shoring manufacturing trends,” states Ben Brudney, a director in the real estate group at KKR who oversees the firm’s industrial investments in the U.S. “We are seeing resilient demand for high quality, well located industrial product and we believe despite near-term supply headwinds, industrial supply-demand fundamentals will remain attractive in the medium to long term.”

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