KKR Expands Industrial Property Portfolio In Inner Empire With New Acquisition

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NEW YORK–(KKR, a leading global investment firm, today announced it has acquired a 505,906 square foot industrial distribution property in Bloomington, California. The building was completed in 2019 and has ultra-modern physical features, including a 36-foot clear height and a 185-foot deep truck deck.

The property was leased out at 100% to an investment grade tenant on a long term basis. KKR acquired the asset from a global real estate investment advisor. JLL Capital Markets mediated the transaction on behalf of the seller.

Strategically located in close proximity to Interstate 10, the main cross-country freight artery, this facility expands KKR’s industrial property in the Inner Empire to nearly four million square feet.

“We are delighted to expand our industrial portfolio in the Inland Empire with this modern, well-located asset,” said Ben Brudney, director of the KKR Real Estate Group. “There are still attractive opportunities to serve e-commerce demand through modern distribution centers like this, especially in locations with high occupancy, high demand and limited capacity for new supply.”

KKR invests in its core plus real estate strategy. Through its foundations, KKR now owns 34 million square feet of industrial property in strategic locations in major US metropolitan areas.

Since launching a dedicated real estate platform in 2011, KKR has grown its assets under management to approximately $ 28 billion in the US, Europe and Asia-Pacific as of March 31, 2021. KKR’s global real estate team consists of over 110 dedicated investment professionals. covering both equity and lending businesses in 11 offices in eight countries.

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About KKR

KKR is a leading global investment company offering alternative solutions for asset management, capital markets and insurance. KKR is committed to generating attractive investment returns by following a patient and disciplined investment approach, hiring world-class talent and supporting the growth of its portfolio companies and communities. KKR sponsors private equity funds, loans and real assets, and has strategic partners in hedge fund management. KKR insurance subsidiaries offer retirement, life and reinsurance products under the management of the Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information on KKR & Co. Inc. (NYSE: KKR) visit the KKR website at www.kkr.com and on Twitter @KKR_Co.

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