KKR Expands Real Estate Industrial Footprint into Denver Market
KKR, a leading global investment firm, today announced the acquisition of Park 12 Hundred, a three-building industrial park in Westminster, Colorado. Located 13 miles from downtown Denver, Park 12 Hundred is KKR’s first commercial real estate acquisition in the Denver market, which has seen high growth in recent years due to favorable demographics.
The property was completed in 2018 with state-of-the-art facilities and is located near Interstate 25, a major arterial road that provides access to downtown Denver in less than 30 minutes. KKR acquired the asset directly from developers Conor Commercial Real Estate and WHI Real Estate Partners. Will Strong of Cushman & Wakefield assisted in completing the transaction.
“We are excited to expand our industrial real estate portfolio to Denver,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in America. “Denver is an important market given its rapid population growth and increased industrial demand. We look forward to being a part of it.”
KKR is making the investment as part of its opportunistic equity real estate strategy for America. Through its funds, KKR owns more than 32 million square feet of commercial real estate in strategic locations in major US metropolitan areas
Since launching a dedicated real estate platform in 2011, KKR has increased real estate assets under management in the US, Europe and Asia-Pacific to approximately $ 28 billion as of December 31, 2020. KKR’s global real estate team consists of around 100 dedicated investment professionals from the equity and credit business in 11 offices and eight countries.
About KKR
KKR is a leading global investment firm providing alternative asset management, capital markets and insurance solutions. KKR seeks attractive investment returns by adopting a patient and disciplined investment approach, employing world class people, and supporting the growth of its portfolio companies and communities. KKR sponsors mutual funds that invest in private equity, loans and real assets, and has strategic partners who manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the leadership 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 about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter at @KKR_Co.
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i Based on Global Atlantic’s preliminary financial results as of December 31, 2020, the estimated value of the Global Atlantic assets under management by KKR Real Estate at the time of the completion of the Global Atlantic acquisition is approximately $ 12 billion.
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