KKR acquires 2.7 million sq ft UK logistics portfolio from Ares

LONDON - KKR and Mirastar, a European logistics platform, have acquired eight UK logistics assets worth 2.7 million square feet from Ares Real Estate funds, according to a press release. The properties are spread across the Midlands, South East, and North of England, with sites in Corby, Doncaster, Stoke-on-Trent, and Milton Keynes.

They are all occupied, with a weighted average lease term of nine years. Around 60% of the rental income comes from tenants with investment-grade status or those of such companies. The assets boast BREEAM ratings from Very Good to Outstanding. Mirastar's CEO, Ekaterina Avdonina, noted that the portfolio expands Mirastar's footprint in UK logistics markets.

KKR's Co-Head in Europe, Mai-Lan de Marcilly, highlighted the enduring strength of the UK logistics sector, driven by strong occupier demand and limited supply. Legal advisors to the deal were DTRE and DLA Piper. The financial details of the acquisition remain undisclosed. Established in 2019, Mirastar is a pan-European logistics developer, investor, and manager, under KKR's pan-European logistics portfolio of €3.5 billion and 1.4 million square meters.

KKR, headquartered in New York, offers investment management, capital markets, and insurance solutions. This report was AI-generated and reviewed by an editor.