KKR and Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, have announced the acquisition of a portfolio of four prime UK logistics assets from PLP for approximately £170 million ($228 million), totaling 1.25 million square feet.
The portfolio comprises assets in Stafford, Crewe, Ellesmere Port and Wakefield, all located within established logistics markets across the West Midlands, the Northwest and Yorkshire. The assets provide best-in-class specifications combined with secure, long-term income, with a weighted average lease term to break of 10 years.
PLP developed the institutional-grade assets which are fully let to a diversified occupier base, with income split across retail distribution, third-party logistics and ecommerce. Around 60 percent of the rent roll is derived from tenants whose parent companies hold investment grade credit ratings.
The portfolio also benefits from strong sustainability credentials, including rooftop solar
