KKR Sells Warehouses to Oxford in $2.2 Billion Property Deal (1)

Oxford Properties Group agreed to buy a portfolio of industrial properties from KKR & Co. for about $2.2 billion as online shopping continues to drive investors toward warehouses.

Oxford, the real estate arm of the Ontario Municipal Employees Retirement System, is acquiring 149 distribution properties in 12 U.S. markets, including Dallas, Phoenix, Chicago and Tampa, according to a statement Tuesday.

Warehouses were a hot corner of commercial real estate even before the pandemic, with investors betting on the rise of e-commerce and demand for quick shipping. Covid-19 pushed consumers to shop online even more, fueling more investment in logistics properties. ...