KKR Sells $560M In Industrial Assets, Keeps Focus On Logistics In Growth Markets

KKR & Co Inc KKR disclosed the sale of over 5 million square feet of industrial warehouse and distribution assets for more than $560 million.

The divestiture was completed through five discrete transactions with five separate buyers, with the final sale closed on Sept. 29.

The asset sale comprises Real Estate Partners Americas II fund assets, including over 50 industrial buildings in high-growth markets such as Lehigh Valley, Central Pennsylvania, Atlanta, Dallas-Fort Worth, and Chicago.

Since 2021, KKR has sold about 21 million square feet, including the five divested assets, and currently owns over 40 million square feet of industrial real estate in key metropolitan areas.

"Our strong focus on asset quality and market selection gives us flexibility to deliver results for our investors in different market conditions, whether through the sales of large portfolios or individual dispositions of well-bought properties. We continue to selectively acquire logistics properties in growth markets, and our existing portfolio continues to benefit from high occupancy and embedded rent growth potential," said KKR director Ben Brudney. 

Since 2018, KKR has acquired over 60 million square feet of logistics assets worth $8 billion. 

As of June 30, KKR had over $64 billion in assets. 

Price Action: KKR shares are trading higher by 1.54% at $62.55 premarket on the last check Monday. 

Related: KKR Acquires SingTel's Regional Data Centre Unit For $807M

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