Global investment firm KKR has invested $70m (€60.5m) to buy three self-storage properties in the US.
KKR said the properties which total 2,000 units are located in Atlanta, Georgia, St Petersburg, Florida and Alexandria, Virginia.
KKR acquired the assets on behalf of KKR Real Estate Partners Americas III, its Americas opportunistic equity real estate fund.
The deal mark KKR’s first self-storage real estate acquisitions in St Petersburg and the Washington DC metropolitan statistical area, the investment firm said.
Ben Brudney, a director in the real estate group at KKR, said: “We believe the self-storage sector has attractive long-term, through-cycle fundamentals and look forward to growing our footprint further in the space by investing in great properties located in markets with strong demand tailwinds.”
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