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KKR expands European logistics portfolio with Dutch investments

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KKR has added a €70.5m Dutch real estate portfolio to its European industrial and logistics platform.

The global investment firm said the Mirastar platform is buying the 45,000sqm portfolio of four logistics assets in the Netherlands from three local Dutch developers. The four assets, located in Eindhoven and Wijchen, will be managed by Mirastar.

In April 2020, KKR acquired a strategic stake in Mirastar from M7. At the time, KKR said Mirastar will be the primary platform for industrial and logistics real estate transactions in Europe for KKR, which over the last 24 months acquired assets across France, the Netherlands, Italy, Spain, and Ireland.

KKR said the latest deal is KKR’s first via its pan-European core- plus real estate strategy, which focuses on investing in high quality, substantially stabilised assets with long-term value growth potential.

Ian Williamson, managing director and head of core plus real estate in Europe at KKR, said: “KKR’s core plus platform in Europe was launched to meet long-term investor demand for high-quality assets in structurally growing areas of the real estate sector.

“These logistics assets are an excellent fit with our strategy and we expect logistics to remain a core thematic focus for KKR in Europe through our core plus platform. The assets have strong ESG credentials and our business plan includes transitioning them to the highest level by supporting de-carbonisation in line with the Paris Climate Agreement.”

Diederik Schol, principal in KKR’s European real estate team, said: “We believe these assets benefit from strong levels of occupier demand and a structural under-supply, driving long-term value appreciation.

“The Netherlands continues to be a key market for us across both core-plus and value-add, particularly in the industrial and residential sectors.”

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