KKR and Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, have acquired a 2.7-million-square-foot portfolio of eight U.K. logistics assets from Ares Real Estate funds.
The portfolio comprises modern, high-quality assets across established distribution markets in the Midlands, Southeast and North of England, including Corby, Doncaster, Stoke-on-Trent and Milton Keynes. The assets benefit from strong connectivity to key population centers 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 percent 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.
“This portfolio broadens Mirastar’s presence across several important U.K. logistics markets, add
