Strong population growth and in-migration across the Sunbelt markets continue to fuel interest by leading real estate firms wanting in on self-storage facilities.
KKR acquired five new self-storage properties totaling approximately 4,100 units from four different sellers through three deals for an aggregate purchase price of approximately $98 million.
The properties are located in Phoenix, Arizona; Dallas, Texas; San Antonio, Texas; and Palm City, Fla., and are expected to bring "outsized demand over the medium to long term," according to a release.
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