NEW YORK – (BUSINESS WIRE) – Jan. October 2021–
KKR, a leading global investment firm, announced today that KKR has acquired approximately 226,000 square feet of Class A industrial distribution property in the Papago Industrial Park in the heavily-infilled Southwest Valley submarket of Phoenix, Arizona.
The property was built in 2000, recently refurbished and leased to a leading manufacturer of industrial construction products on a long-term basis. It has a clearance height of 9 m, a 130-foot truck space and direct rail access. Located just off I-10, the distribution facility provides direct access to downtown Phoenix in around 10 minutes and attractive coverage of the entire statistical metropolitan area of Phoenix with its proximity to Highway 202 and I-17.
The purchase increases KKR’s industrial real estate portfolio in Phoenix to approximately 2 million square feet and was made through the KKR Real Estate Partners Americas III fund.
“Phoenix continues to be a very convincing market for our real estate business and we are excited to expand our presence in the market with the purchase of this well-located and modern industrial distribution property,” said Ben Brudney, a director of the real estate group at KKR, who owns the oversees the company’s industrial investments in the United States.
Through its funds, KKR owns approximately 34 million square feet of commercial real estate in strategic locations in key metropolitan areas in the United States. Since the introduction of a special real estate platform in 2011, KKR has managed real estate assets in the USA in approximately Europe and Asia as of June 30, 2021. KKR’s global real estate team consists of around 130 committed investment experts who cover both the equity and the Cover lending business in 12 branches and nine countries.
About KKR
KKR is a leading global investment company providing alternative asset management, capital markets and insurance solutions. KKR aims to generate attractive investment returns by adopting a patient and disciplined investment approach, employing world class people, and supporting the growth of its portfolio companies and communities. KKR sponsors mutual funds that invest in private equity, credit and real assets, and has strategic partners who manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the leadership of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and Twitter @ KKR — Co.
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CONTACT: Miles Radcliffe Separator
212-750-8300
media@kkr.com
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEY: COMMERCIAL & REAL ESTATE & REAL ESTATE PROFESSIONAL SERVICES FINANCE
SOURCE: KKR
Copyright Business Wire 2021.
PUB: 7/10/2021 7:00 AM / DISC: 7/10/2021 7:02 AM
http://www.businesswire.com/news/home/20211007005200/en
Copyright Business Wire 2021.
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