Global Investment Firm Acquires Westminster Industrial Park
KKR, a global investment firm, has acquired Park 12 Hundred, a three building industrial park totaling approximately 290,000 square feet in Westminster. Park 12 Hundred is KKR’s first industrial real estate acquisition in Denver.
The property was completed in 2018 with state of the art features and is located near I- 25, a major arterial thoroughfare that provides access to downtown Denver in less than thirty minutes. KKR acquired the asset directly from the developers, Conor Commercial Real Estate and WHI Real Estate Partners. Will Strong of Cushman & Wakefield assisted in the transaction’s execution.
“We are excited to expand our industrial real estate portfolio into Denver,” said Roger Morales, KKR partner and head of commercial real estate acquisitions in the Americas. “Denver is an important market, given its strong population growth and increased industrial demand, and one we’re looking forward to being a part of.”
KKR is making the investment through its Americas opportunistic equity real estate strategy. Across its funds, KKR owns over 32 million square feet of industrial property in strategic locations across major metropolitan areas in the U.S.
Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $28 billion across the U.S., Europe and Asia Pacific, as of December 31, 2020. KKR’s global real estate team consists of approximately 100 dedicated investment professionals, spanning both the equity and credit business, across 11 offices and eight countries.