KKR Invests $234 Million in Houston Industrial Park

KKR completed the acquisition of Park 8Ninety, a 12-building industrial logistics park in Houston, Texas, from Artis Real Estate Investment Trust for approximately $234 million.

The approximately 1.8 million square foot (1.8 million square feet) master-planned park was completed in phases between 2017 and 2022. The 127-acre property is home to a diverse mix of modern, single- and multi-tenant Class A logistics buildings with clear heights ranging from 24 to 36 feet, catering to a variety of industrial uses. The park is located in southwest Houston with direct access to Beltway 8 and other major interstate transportation routes.

KKR is acquiring the park through its KKR Real Estate Partners Americas III fund and KKR-advised capital accounts. As part of its U.S. strategies, KKR has committed to or acquired approximately $7.5 billion of industrial logistics assets since 2018 and currently owns more than 48 million square feet of industrial real estate in major U.S. metropolitan areas.