KKR’s Americas opportunistic equity real estate fund has sold four self-storage properties for $80m (€74.3m).
The KKR Real Estate Partners Americas III fund has sold two properties in Austin, Texas, and an asset each in Phoenix, Arizona and Riverside, California in two separate deals to unnamed buyers.
Global investment firm KKR said the assets sold by its fund total 2,897 units.
Ben Brudney, director a real estate director at KKR, said: “Our focus on acquiring premier properties in strategic locations has enabled us to deliver a great outcome for our investors with these two sales.
“We are continuing to grow our portfolio of self-storage properties with the support of our operating platform. We believe the self-storage sector is positioned to outperform in the current environment thanks to resilient demand and short-term lease cycles that benefit from an inflationary environment.”
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