KKR-Mirastar Real Estate Platform acquires U.K. logistics portfolio from TPG, Stoford

Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, has acquired four U.K. logistics assets, located in Harlow, for £160 million (€192 million/$208 million) from TPG, a leading global alternative asset management firm, and Stoford.

The four newly built grade-A freehold assets, totaling 370,000 square feet, are located in Harlow, Greater London, and let to low-risk covenants. The assets have strong ESG performance and are recognized with BREEAM “Very Good” ratings across all four buildings. The United Kingdom continues to see sustained rental growth in the logistics sector with ongoing undersupply and strong occupier demand, and the Harlow portfolio is well-situated, capable of being used for national distribution as well as last-mile distribution within Greater London.

The transaction is KKR’s second from its pan-European Core+ Real Estate strategy, after the acquisition of four freehold logistics assets totaling 45,000 square meters (48