KKR and Mirastar Complete Acquisition of Portfolio of Eight UK Logistics Assets from Ares

LONDON--(BUSINESS WIRE)--KKR and Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, have acquired a 2.7-million-square-foot portfolio of eight UK logistics assets from Ares Real Estate funds.

The portfolio comprises modern, high-quality assets across established distribution markets in the Midlands, South East and North of England, including Corby, Doncaster, Stoke-on-Trent and Milton Keynes. The assets benefit from strong connectivity to key population centres and transport infrastructure.

The portfolio is fully occupied, with a weighted average lease term to break of nine years across a diversified tenant base. Approximately 60% of the rent roll is derived from investment-grade tenants or subsidiaries of investment-grade parent companies. The portfolio also has strong sustainability credentials, with BREEAM ratings ranging from Very Good to Outstanding.

Ekaterina Avdonina, CEO and Co-Founder at Mirastar, said: “This portfolio broadens Mirastar’s presence across several important UK logistics markets, adding a high-quality group of assets to our growing European platform. We see clear opportunities to apply Mirastar’s operating capabilities across the portfolio to drive long-term value creation.”

Mai-Lan de Marcilly, Co-Head of European Real Estate Equity at KKR, added: “We continue to see strong fundamentals in UK logistics, underpinned by resilient occupier demand and constrained supply in key markets. With its combination of durable income and meaningful growth potential, this portfolio represents the type of opportunity KKR’s diversified pools of capital are well positioned to pursue.”

KKR and Mirastar were advised by DTRE and DLA Piper.

About Mirastar

Mirastar is a pan-European logistics developer, investor and asset manager, founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler. The team currently comprises senior real estate professionals based in London, Paris, Stockholm and Frankfurt. Through Mirastar, KKR currently manages approximately €3.5bn of assets under management, totalling around 1.4 million sqm, across the UK, France, Germany, Sweden, Italy, Spain and the Netherlands, and the team has collectively deployed over €25 billion of capital and built or constructed in excess of 4 million square metres of logistics assets across key European markets.

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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.