KKR Buys Two Real Estate Properties For Around $250 Mln

(RTTNews) - KKR & Co. Inc. (KKR) said on Wednesday that it has acquired an industrial park in Arizona and an industrial warehouse in Atlanta, for around $250 million. The newly constructed two Class A assets were bought from two different parties.

Ben Brudney, a Director in the Real Estate group at KKR, said: "…We are seeing resilient demand for high quality, well located industrial product and we believe despite near-term supply headwinds, industrial supply-demand fundamentals will remain attractive in the medium to long term."

The Arizona property is located in Phoenix's Southwest Valley industrial submarket and consists of three buildings totaling around 1.3 million square feet. The Georgia property is located in Palmetto and is spread on an area of 700,000 square feet.