KKR has sold more than $560 million of industrial real estate, including Lehigh Valley properties.
The New York City-based investment firm said it sold more than 5 million square feet of warehouse property in five deals. The sales were completed Sept. 29.
More than 50 buildings were sold in the transactions, in the Atlanta, Dallas-Fort Worth, Chicago, Lehigh Valley and central Pennsylvania regions. 69 News has contacted KKR for information on local sales.
“These sales demonstrate the attractive bid that exists for quality assets in supply-constrained locations,” Roger Morales, KKR partner and head of real estate acquisitions in the Americas, said in a company statement.
KKR has sold about 21 million square feet of space since 2021. It still owns more than 40 million square feet of industrial real estate and is looking for more.
“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 Ben Brudney, a KKR director who oversees U.S. industrial real estate investments.
As of June 30, KKR was managing more than $64 billion in total real estate assets.
“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,” according to the company’s website.