KKR, a leading global investment firm, today announced the acquisition of five new self-storage properties totaling approximately 4,100 units for an aggregate purchase price of approximately $98 million. The properties were acquired from four different sellers in three separate transactions and are located in: Phoenix, Arizona; Dallas, Texas; San Antonio, Texas; and Palm City, Florida.

"We continue to expand our portfolio of high-quality self-storage properties across Sunbelt markets that are experiencing strong population growth and in-migration," said Ben Brudney, a Director in the Real Estate group at KKR. "We track sector fundamentals closely and believe these assets are located in submarkets that are well positioned to benefit from outsized demand over the medium to long term."

The purchases were made through KKR's Americas opportunistic equity real estate fund, KKR Real Estate Partners Americas III.

Since launching a dedicated real estate platform in 2011, KKR has grown its real estate assets under management to approximately $59 billion across the U.S., Europe and Asia Pacific as of March 31, 2021. KKR's global real estate team consists of over 135 dedicated investment professionals, spanning both the equity and credit business, across 13 offices and 10 countries.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.

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KKR Grows Self-Storage Portfolio With Five New Acquisitions