December 14, 2020
KKR said Friday it had acquired a 9.7-million-square-foot industrial portfolio in seven major markets across the U.S. from High Street Logistics Properties for approximately $835 million. The acquisition grows New York-based KKR’s portfolio of industrial properties across its funds to approximately 30 million square feet.
The newly acquired portfolio consists of primarily multi-tenant industrial assets in attractive infill submarkets and is complementary to KKR’s existing footprint in the Atlanta, Baltimore, Chicago, Central Florida and Dallas markets. The acquisition also expands KKR’s industrial real estate portfolio to new markets in Central Pennsylvania and South Florida.
“This acquisition is an important milestone for our business as we continue to invest behind the strong demand fundamentals for warehouses that we see across the country,” said Roger Morales, KKR’s head of commercial real estate acquisitions in the Americas.
CBRE National Partners represented Boston-based High Street in the transaction.
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