REAL ESTATE TECHNOLOGY

KKR is growing its Texas real estate industrial portfolio with new acquisitions in Dallas and Houston.

businesswire | December 04, 2020

KKR, a main worldwide speculation firm, today declared the securing of two mechanical appropriation properties in Texas adding up to around 1.8 million square feet at a total buy cost of roughly $171 million.

The recently obtained properties are situated in the significant business sectors of Dallas and Houston. Both are best in class satisfaction focuses with a normal vintage 2019. The properties were 100% rented at securing to two distinctive speculation grade occupants on a drawn out premise. The properties were obtained from Hines, the worldwide land firm, which built up the resources.

The two properties are the most recent mechanical resources procured by KKR's center in addition to land system, developing its all out modern land portfolio to around 7.2 million square feet. Over its assets, KKR claims more than 20 million square feet of mechanical property in key areas across significant metropolitan regions in the U.S.

“As more consumers migrate to shopping online and expect a seamless delivery experience, the demand for modern logistics real estate in major markets continues to grow,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas. “We are excited to help meet that demand by increasing our footprint in the Dallas and Houston markets with the addition of these two high-quality, stable assets.”

Since dispatching a devoted land stage in 2011, KKR has developed land AUM to roughly $14 billion over the U.S., Europe and Asia as of September 30, 2020. The worldwide land group comprises of more than 90 committed venture experts, traversing both the value and credit organizations.

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