KKR takes major stake in European logistics real estate portfolio

“Logistics real estate continues to be an attractive market for KKR, despite the challenges of the current market environment, with strong investment fundamentals and future growth drivers,” said Guillaume Cassou, partner and head of European real estate at KKR. “We look forward to building on our existing relationship with Mirastar to leverage these trends, investing in the continued supply of high-quality assets to meet the growing tenant demand evident across Europe and further building KKR’s footprint in European logistics.”

 Over the past 24 months, KKR has acquired approximately 800,000 sqm of industrial and logistics space across France, the Netherlands, Italy, Spain and Ireland. To date, the buyout group and Mirastar have bought a 49,000 sqm forward funding project in the Netherlands.

Mirastar was founded last year by chief executive officer Ekaterina Avdonina and chief investment officer Anthony Butler. The company employs 15 senior real estate professionals in its offices in London, Madrid and Rotterdam.

“Against the difficult market backdrop prompted by the outbreak of Covid-19, our conviction in the underlying, long-term structural forces behind the growth of logistics real estate remains,” said Avdonina. “We have identified an attractive pipeline and are well placed to act on opportunities in the market.”