KKR has expanded its US industrial real estate portfolio with the acquisition of two new buildings.
KKR, through its Real Estate Partners Americas Fund II (REPA II) fund, has bought the 928,270sqft assets from the developers for an undisclosed sum.
The buildings are located in Inland Empire, California, and in Lakeland, Florida.
Roger Morales, KKR member and head of commercial real estate acquisitions in the Americas, said: “We are excited to add these buildings to our growing industrial portfolio and to be making our second acquisition in both Inland Empire and Central Florida, two very attractive markets for us given strong industrial supply-demand fundamentals.”
The $2bn REPA II fund, which closed in January last year, targets value-add and opportunistic real estate investments primarily in the US.