(Reuters) – U.S. private-equity firm KKR said on Monday it has completed the sale of an industrial property portfolio of 5 million square feet (465,000 square meters) for a total aggregate value of over $560 million.
The sales, primarily comprising assets in KKR’s Real Estate Partners Americas II fund, include more than 50 industrial buildings spread across Atlanta, Dallas-Fort Worth, Chicago, the Lehigh Valley and Central Pennsylvania, the company said, without disclosing details of the buyer.
Since the pandemic sparked a shift away from traditional brick-and-mortar stores and towards online shopping, retailers continue to have a high demand for industrial buildings like warehouses and logistic facilities.
“These sales demonstrate the attractive bid that exists for a quality assets in supply-constrained locations,” said Roger Morales, partner and head of real estate acquisitions in the Americas at KKR.
Considering trying out virtual dating RN? We got you. Here are some tips to turn you into a video dating pro — instantly.
The company sold a 14.5 million square feet industry portfolio in 2021 for about $2.2 billion to Oxford Properties Group, a real estate investor based in Canada.
Including the recent sale, KKR has sold about 21 million square feet industrial real estate since 2021.
(Reporting by Pritam Biswas in Bengaluru; Editing by Sherry Jacob-Phillips)
Are You Taking One of These 9 “Memory Erasing” Prescriptions? [ad]
You may think your memory loss is just a sign of getting older, but one of these 9 drugs could actually be damaging your brain... These 9 prescription drugs have now been linked to Alzheimer's disease diagnoses. If you're over the age of 60, and you're taking even 1 of these 9 drugs, your brain could be at risk. Click here to learn more.
