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REAL ESTATE TECHNOLOGY

KKR expands its Phoenix real estate industrial portfolio with a new acquisition

businesswire | January 12, 2021

KKR, a main worldwide speculation firm, today reported the procurement of a 263,000 square foot modern dissemination property in Goodyear, Arizona. Deliberately situated in closeness to the I-10 interstate thruway, a significant crosscountry shipping vein, the property builds KKR's mechanical land impression in the Phoenix, Arizona metropolitan factual territory (MSA) to more than 2,000,000 square feet.

The property is present day satisfaction focus finished in 2019 with best in class actual highlights including 36' clear tallness and was 100% rented at obtaining to great occupant on a drawn out premise. KKR gained the resource from the engineers, Provident Real Estate Ventures and Merit Partners.

“We continue to like high growth markets across the Sunbelt and are excited to further expand our presence in Phoenix with this high quality asset well suited to today’s logistics needs,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas.

KKR is making the speculation through its center in addition to land technique. Across its assets, KKR currently claims around 32 million square feet of mechanical property in essential areas across significant metropolitan regions in the U.S.

Since dispatching a committed land stage in 2011, KKR has developed land resources under administration to roughly $14 billion across the U.S., Europe and Asia as of September 30, 2020. The worldwide land group comprises of more than 90 committed speculation experts, crossing both the value and credit organizations.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds.

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Spotlight

NAB RESIDENTIAL PROPERTY SURVEY Q2-2018

NAB’s Residential Property Index (a measure of sentiment among property professionals based on expectations for house prices and rents) fell 17 points to +6 in Q2 - its lowest level since mid-2016 and well below average (+14). Sentiment waned in all states, with the biggest falls in WA and NSW. QLD and VIC were also much softer. Confidence (based on future expectations for house prices and rents) also fell to a new survey low, pulled down mainly by NSW and VIC where the outlook for house prices was scaled back sharply. The outlook for rents remains positive in all states and is likely placing upward pressure on yields. Also on a positive note, housing demand from first home buyers continued to offset a reduction in demand from foreign buyers in new and established housing markets, with state government incentives and moderating house prices likely helping these buyers move onto the property ladder. Property professionals also said credit constraints are impacting housing markets more than they have for a number of years amid intensified lending scrutiny by banks and APRA-inspired tighter credit policies. NAB’s view is that the weakness in dwelling prices seen over the past year is likely to persist in 2018 and 2019 though we expect moderate rather than sharp price falls.

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