(RTTNews) - Oxford Properties Group has agreed to acquire a portfolio of 149 distribution buildings from global investment firm KKR. The 14.5 million square foot infill and light industrial portfolio is located across 12 major industrial U.S. markets. The deal, valued at approximately $2.2 billion, is anticipated to close in the coming months.
Ankit Bhatt, VP of Investments at Oxford Properties, said: "The acquisition serves as a launchpad for Oxford's light industrial business which perfectly complements our big box development platform, IDI Logistics."
KKR will continue to own over 20 million square feet of industrial property across metropolitan areas in the U.S.
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