KKR Acquires Park 8Ninety for $234 Million

Author

Slice of Real Estate Team
July 17, 2024

Key Highlights:

  • KKR acquires Park 8Ninety from Artis REIT for $234 million.

  • 1.8 million square-foot logistics park located in southwest Houston.

  • Park features Class A single-tenant and multi-tenant buildings with heights from 24 to 36 feet.

  • Strategically located with direct access to Beltway 8 and major interstates.

  • Acquired through KKR Real Estate Partners Americas III fund.

Source (Business Wire)

Notable Quote:

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"Park 8Ninety is a great addition to our national logistics portfolio and expands our footprint in Houston which continues to benefit from strong demand fundamentals and comparatively lower supply than many other markets in the United States.”

Ben Brudney, Managing Director in the Real Estate group at KKR

Our Take:

KKR’s acquisition of Park 8Ninety marks a significant expansion of their logistics portfolio, highlighting their strategic focus on high-demand markets with limited supply. This 1.8 million square-foot logistics park in Houston is a prime example of KKR’s commitment to investing in high-quality, well-located industrial assets. The addition of this park will enhance KKR's ability to capitalize on the robust demand for logistics space in Houston, driven by its strategic location and modern facilities. This acquisition underscores KKR's strong market position and expertise in managing large-scale real estate investments.