KKR Expands Industrial Real Estate Footprint in Tampa with New Acquisition
NEW YORK–(BUSINESS WIRE) – KKR, a leading global investment firm, today announced the acquisition of 178,400 square feet industrial property in Tampa, Florida.
The property is in a highly populated East Tampa location, approximately fifteen minutes from downtown Tampa’s bustling city. It was rebuilt in 2020 and has state-of-the-art physical features including a 32-foot headroom. When it was acquired, 100% of the property was rented to three tenants.
The acquisition expands KKR’s industrial real estate presence in the greater Tampa area to 1.4 million square feet.
“We believe in Florida’s continued growth over the long term,” said Roger Morales, KKR partner and director of commercial real estate acquisitions in America. “The demographic growth in Tampa in particular has been impressive and we are excited to add this well-located, high-quality asset to our portfolio.”
KKR is making the investment as part of its opportunistic equity real estate strategy for America. Through its funds, KKR owns nearly 34 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 its real estate assets under management in the US, Europe and Asia Pacific to approximately $ 28 billion as of December 31, 2020 (pro forma inclusion of Global Atlantic assets according to the takeover of Global by KKR) Atlantik on February 1, 2021). KKR’s global real estate team consists of around 100 dedicated investment professionals who cover both the equity and credit business in 11 offices and eight countries.
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.