KKR Continues to Expand Real Estate Industrial Portfolio with New Acquisitions

November 25, 2019

Investments Increase Portfolio to Ten Million Square Feet

NEW YORK–(BUSINESS WIRE)–

KKR, a leading global investment firm, today announced the acquisition of four industrial distribution properties totaling approximately 641,400 square feet. The assets are part of KKR’s Alpha Industrial Properties portfolio, a ten million square foot portfolio across eight high-growth markets in the U.S.

The newly acquired properties are located in major Metropolitan Statistical Areas (“MSAs”) including: (1) Atlanta, GA; (2) Inland Empire, CA; and (3) Orlando, Florida. The buildings are all high quality, shallow-bay, last mile distribution properties. The average vintage of the properties is 2006, and in-place occupancy at acquisition is 98%. The properties were acquired from three different sellers.

“We are excited to increase our footprints in these high growth MSAs,” said Roger Morales, KKR Member and Head of Commercial Real Estate Acquisitions in the Americas. “We believe infill, multi-tenant assets in major MSAs like these will experience strong rent growth given the continued strength of industrial supply-demand fundamentals.”

KKR is making the investment through its Real Estate Partners Americas Fund II.

Since launching a dedicated real estate platform in 2011, KKR has invested or committed approximately $9 billion in capital across over 200 real estate transactions in the U.S., Europe and Asia as of September 30, 2019. The global real estate team consists of over 85 dedicated investment professionals, spanning both the equity and credit businesses.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191125005205/en/

Media:
Kristi Huller or Cara Major
212-750-8300
media@kkr.com

Source: KKR

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Kristi Huller
Julia Kosygina

Liidia Liuksila
Telephone: +1 (212) 750-8300

Email: media@kkr.com

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Annabel Arthur
Miles Radcliffe-Trenner

Julia Leeger
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Email: kkrpr-uk@kkr.com

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Wei Jun Ong
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Email: media@kkr.com

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This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively “KKR”), including certain investment funds, vehicles and accounts that are managed by KKR (each, a “fund”). Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to, assets under management, fee paying assets under management, after-tax distributable earnings, capital invested, syndicated capital, uncalled commitments, cash and short-term investments, fee related earnings, fee and yield segment EBITDA, core interest expense and book value, may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; the general volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. All forward-looking statements speak only as of the date they are made. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long-term and financial results are subject to significant volatility.

Additional information about factors affecting KKR, including a description of risks that may be important to a decision to purchase or sell any common or preferred stock of KKR & Co. Inc., can be found in KKR & Co. Inc.’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the SEC, which are available at www.sec.gov.