KKR Acquires Park 8Ninety, a 12 Building Class A Industrial Logistics Park in Houston, from Artis REIT
2024年7月15日 - 8:00PM
ビジネスワイヤ(英語)
KKR, a leading global investment firm, today announced that KKR
has completed the acquisition of Park 8Ninety, a 12 building
industrial logistics park in Houston, Texas, from Artis Real Estate
Investment Trust (“Artis REIT”) for approximately $234 million.
The approximately 1.8 million square-foot (SF) master planned
park was completed in phases between 2017 and 2022. The 127-acre
property boasts a diverse mix of Class A single-tenant and
multi-tenant modern logistics buildings, with clear heights ranging
from 24 to 36 feet, catering to a variety of industrial uses. The
park is strategically located in southwest Houston with direct
access to Beltway 8 and other major interstate transportation
routes.
"Park 8Ninety is a great addition to our national logistics
portfolio and expands our footprint in Houston which continues to
benefit from strong demand fundamentals and comparatively lower
supply than many other markets in the United States,” said Ben
Brudney, a Managing Director in the Real Estate group at KKR who
oversees the firm’s industrial investments in the United States.
“Park 8Ninety is a high-quality, well-designed, multi-tenant park
with a diverse and staggered rent roll.”
KKR is acquiring the park through the KKR Real Estate Partners
Americas III fund and capital accounts advised by KKR. Across its
strategies in the U.S., KKR has committed or acquired approximately
$7.5 billion of logistics assets in the industrial sector since
2018 and currently owns over 48 million SF of industrial real
estate in major U.S. metropolitan areas.
KKR’s global real estate business invests in high-quality,
thematic real estate through a full range of scaled equity and debt
strategies. Managing $71 billion in assets as of March 31, 2024,
KKR’s more than 150 dedicated real estate investment and asset
management professionals across 16 offices apply the capabilities
and knowledge of KKR’s global platform to deliver outcomes for
clients and investors.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240714914974/en/
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