KKR & Co. Inc.
NYC Investment Firm to Sell $2.2B Industrial Property Portfolio
New York City-based investment firm, KKR & Co, has reached a deal to sell their $2.2 billion commercial real estate portfolio to Canadian investor, Oxford Properties Group. The sale includes 149 industrial buildings, spread across 12 US markets. The properties when combined total over 14.5 million square feet. In response to the big announcement, Ankit Bhatt, Oxford's Vice President of Investments stated, "Growing our US industrial business is one of Oxford’s highest conviction global investment strategies as we continue to build, buy and invest in the physical infrastructure that serves the digital economy". The portfolio took KKR almost four years to build and it consists mainly of distribution centers for online retailers.