KKR & Co. Inc. [NYSE: KKR] announced that it purchased two properties in texas for distribution purposes. The industrial properties total an area of 1.8 million sqft valuing about $171 million. Both the properties are a state of art and are in major markets of Dallas and Houston.
The addition of these two properties has increased the company’s real estate portfolio to approx 7.2M sqft. Moreover, in major US areas, the company owns over 20M sqft of industrial property.
The properties were purchased from the real estate firm Hines. Roger Morales KKR partner stated ” That more people shifted to online buying because of which demand for modern logistics grew. We’re excited to try to meet that demand by increasing our properties in the major markets with these two high-quality stable assets.”