Private equity powerhouse KKR has added to its national self storage portfolio with the purchase of three Class A properties in Denver and Nashville.
The properties were acquired by KKR’s Americas opportunistic equity real estate fund, KKR Real Estate Partners Americas III, in two separate transactions with two separate sellers.
Denver and Nashville are important destinations for our self storage investing strategy and we are excited to grow our footprint in both markets with the purchase of three modern, well-located properties.”
The two Denver properties were completed in 2017 and 2018 and the Nashville property was completed in 2018. The purchases add over 2,000 units to KKR’s self storage portfolio and further expand the firm’s footprint in two of the U.S.’s fastest growing metropolitan areas.
The transactions follow KKR’s announcement in December 2021 of the launch of Alpha Storage Properties (ASP) to acquire and manage a portfolio of self storage assets in high-growth markets and strategic infill locations across the country.
“Denver and Nashville are important destinations for our self storage investing strategy and we are excited to grow our footprint in both markets with the purchase of three modern, well-located properties,” said Ben Brudney, a Director in the real estate group at KKR. “We are continuing our focus on acquiring high-quality assets in growth markets and working with our team of experienced operators to deliver a best-in-class user experience for self storage customers.”
KKR’s self storage portfolio currently includes properties in the Austin, Atlanta, Charlotte, Denver, Inland Empire, Nashville, Orlando, Phoenix, St. Petersburg and Washington D.C. markets.
