KKR acquires portfolio of six Class A industrial warehouses across U.S.

KKR announced that it has acquired a portfolio of six well-located, Class A industrial logistics properties in major U.S. Gateway and Sunbelt markets for approximately $377M. The six modern industrial properties possess an average vintage of 2014 and feature 35-foot average clear heights. The warehouses feature other state of the art characteristics making them highly relevant for the ever-evolving needs of today’s logistics tenancy. The portfolio is 100% leased to a high-quality tenant mix. The assets are strategically located in infill submarkets across several major markets, including Seattle, Atlanta, Philadelphia, New Jersey and the San Francisco Bay Area. “We are excited to purchase these six well positioned properties as we continue to grow our national portfolio of well-diversified, carefully selected industrial assets,” said Ben Brudney, a Managing Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We think high quality assets in infill locations near diverse demand drivers and accommodative labor forces will be increasingly difficult to reproduce in the coming years.”