KKR, a leading global investment firm, announced the acquisition of five new self-storage properties totaling approximately 4,100 units for an aggregate purchase price of approximately $98m.
The properties were acquired from four different sellers in three separate transactions and are located in: Phoenix, Arizona; Dallas, Texas; San Antonio, Texas; and Palm City, Florida.
“We continue to expand our portfolio of high-quality self-storage properties across Sunbelt markets that are experiencing strong population growth and in-migration,” said Ben Brudney, a Director in the Real Estate group at KKR.
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Brudney continues: “We track sector fundamentals closely and believe these assets are located in submarkets that are well positioned to benefit from outsized demand over the medium to long term.”
The purchases were made through KKR’s Americas opportunistic equity real estate fund, KKR Real Estate Partners Americas III.
Since launching a dedicated real estate platform in 2011, KKR has grown its real estate assets under management to approximately $59 billion across the U.S., Europe and Asia Pacific as of March 31, 2021.
KKR’s global real estate team consists of over 135 dedicated investment professionals, spanning both the equity and credit business, across 13 offices and 10 countries.
Source: Business Wire
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