KKR to sell industrial properties for $2.2bn to Canadian realty group

KKR & Co said it had agreed to sell a 14.5 million square feet industrial property portfolio for about $2.2bn to Oxford Properties Group, a real estate investor based in Canada.

Oxford, the real estate arm of Canadian pension fund Ontario Municipal Employees Retirement System, expects the acquisition to help it expand into the U.S. market. The portfolio comprises 149 buildings across 12 major industrial markets including Dallas, Chicago and Houston.

With the pandemic last year propelling a shift away from shopping at brick-and-mortar stores to online, retailers’ demand for industrial properties such as warehouses and logistics facilities has skyrocketed.

Oxford and its portfolio companies manage about $55.5bn of assets, according to its website.

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About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds.

As investors with an industrialist vision, we aim to generate attractive investment returns by following a patient and disciplined approach, employing high-quality people, pursuing the highest standards of excellence, and aligning our interests with those of our investment partners.

Source: Market Screener

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