KKR and Mirastar have bought a five-site UK logistics portfolio from PLP.
The buildings span a total of 890,364 sq ft across the North West and Yorkshire, with assets in Salford, Liverpool, Crewe, Sheffield and Smithywood.
The portfolio is 80% let, with a weighted average lease term to break of 10 years.
Ekaterina Avdonina, chief executive and co-founder at Mirastar, said: “This impressive portfolio follows our careful approach to asset selection across Europe as we look to aggregate well-specified assets in key logistics locations. The North West and North of England have performed strongly in recent years, and we expect this trend to continue as we enter an exciting stage of the UK real estate market cycle.”
Seb D’Avanzo, managing director and head of acquisitions for real estate in Europe at KKR, added: “This addition in the UK aligns with our focus on high-quality, well-located properties that meet the evolving demands of the market. As we continue to scale our presence across Europe, we are dedicated to unlocking value through assets that combine strong fundamentals with sustainability and growth potential.”
KKR and Mirastar were advised by DTRE; PLP was advised by CBRE.
Image © PLP
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