KKR has invested $136m (€112m) to buy four industrial distribution properties across the greater Atlanta metropolitan area.
KKR’s Real Estate Partners Americas Fund II, a value-add and opportunistic fund, has bought three last-mile distribution properties in separate deals, the manager said, adding that its core-plus real estate strategy has bought a newly-built fulfilment centre.
The investment by KKR’s core plus real estate strategy is the first industrial investment by the strategy in Atlanta, the manager said.
Roger Morales, KKR partner and head of commercial real estate acquisitions in the Americas, said: “These acquisitions are part of our ongoing effort to expand our industrial portfolio across high growth Sunbelt markets.”
Ben Brudney, a director at KKR overseeing the firm’s industrial real estate efforts, said: “We are excited to increase our footprint in Atlanta, given the markets’ strong supply-demand fundamentals and long-term growth trajectory.
“These are important acquisitions for us as we continue to develop and diversify our industrial footprint to include both infill and multi-tenant assets, as well as larger, single-tenant fulfilment centres.”
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