KKR-Mirastar Real Estate Platform Acquires UK Logistics Portfolio from TPG and Stoford
11.4.2022 10:00:00 EEST | Business Wire | Press release
KKR, a leading global investment firm, today announces that Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, has acquired four UK logistics assets, located in Harlow, for £160m 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 recognised with BREEAM “Very Good” ratings across all four buildings. The UK 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, following the acquisition of four freehold logistics assets totaling 45,000 square meters in the Netherlands in January. KKR’s Core+ strategy targets high quality, substantially stabilized assets with long-term value growth potential. KKR is an active investor in logistics real estate across Europe and as of Q4 2021, KKR Real Estate owns over 1.6 million square metres of logistics assets across Spain, Italy, the United Kingdom, France, Ireland, and the Netherlands.
Ian Williamson, Managing Director and Head of Core+ Real Estate in Europe at KKR, said: “We’re delighted to announce our first UK acquisition for KKR’s Core+ strategy for Real Estate. High-quality logistics assets are one of the main investment themes for our Core+ strategy in Europe and this marks the second successful transaction in just three months since the platform was launched last year. The combination of protection on the downside and optionality on the upside is compelling.”
Diederik Schol, Principal in KKR’s European Real Estate team added: “We’re pleased to continue growing our industrial logistics portfolio in the UK with the addition of this high-quality portfolio in an important national distribution hub. The portfolio we have acquired contains well-located, high-quality assets with strong ESG credentials, and serves a structurally growing sector where there is an ongoing supply demand imbalance.”
Michiel Celis, Business Unit Partner with TPG Real Estate, said: “We, alongside our partner Stoford, acquired the site in 2018 and successfully developed this prime logistics park on time and on budget. The buildings all have strong ESG credentials and are fully let on long leases to a roster of high-quality tenants, including Amazon and Wincanton. We have been very pleased with the excellent work from our partners at Stoford, and we wish KKR and Mirastar success in the future.”
Ekaterina Avdonina, CEO and Co-founder at Mirastar, said: “We are excited to expand on our investments with KKR. The Harlow Icon Park is a rare modern logistics park within the M25 which was completed in the last two years. This acquisition complements the growing Core+ logistics portfolio”.
Angus Huntley, Director at Stoford, said: “We are very pleased to have completed the successful sale of four highly specified logistics units at the Harlow Icon Park. We and our partners at TPG have significantly invested in repositioning the site since our acquisition in 2018, by demolishing the existing buildings and developing three speculative new units and one pre-let. We have asset managed the scheme throughout to ensure that the site has remained operational for existing tenants.”
TPG is selling the assets out of the TPG Real Estate platform, which invests across multiple strategies including private equity, core plus, and commercial debt and has an AUM of $13 billion. Since its inception in 2009, TPG Real Estate’s dedicated opportunistic real estate equity investment platform, TPG Real Estate Partners (TREP), has built a differentiated investment portfolio comprised primarily of real estate-rich platforms and portfolios located in the United States and Europe, with $6.1 billion of assets under management.
KKR Capital Markets arranged debt financing for the acquisition.
KKR’s Real Estate team was advised by Osborne Clarke (legal), Savills (technical due diligence), Nova Ambiente (environmental), Gerald Eve (buy-side commercial), Simpson Thacher & Bartlett LLP (financing legal), Arcadis (ESG), Deloitte (tax) and Gibson Dunn (legal).
TPG Real Estate was advised by Gateley (legal), Deloitte (tax), DTRE and M1 (sell-side commercial).
-ends-
Media Enquiries
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About TPG
TPG is a leading global alternative asset management firm founded in San Francisco in 1992 with $114 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220411005074/en/
Contact information
KKR: UK
Alastair Elwen / Sophia Johnston
Finsbury Glover Hering
+44 20 7251 3801
KKR_LON@finsbury.com
TPG: UK
Alex Jones, Michael Russell, Daniel Oliver
Greenbrook
+44 207 952 2000
tpg@greenbrookpr.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
FPT Releases Global Study on Scaling Enterprise AI, Highlighting the Shift from Pilots to Platform-Driven Transformation8.7.2026 10:08:00 EEST | Press release
As artificial intelligence moves from experimentation into the core of enterprise operations, a new reality is emerging: scaling AI is no longer a technology challenge, but a transformation imperative. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708088519/en/ FPT Corporation today announced the release of a global thought leadership study, titled “From Pilots to Reusable Platforms: A Blueprint for Scaling Enterprise AI.” Published on 08 July 2026, this is a commissioned study conducted by Forrester Consulting on behalf of FPT, examining how enterprises across regions and industries are advancing their AI journeys - and why many remain unable to translate early momentum into consistent, enterprise-wide impact. The executive study is based on a global survey of 397 business and technology decision-makers globally, supported by in-depth interviews with senior executives across North America, Europe, Asia Pacific and Japan
Wolters Kluwer Brings Libra AI Workflows Into One for Italian Legal Professionals8.7.2026 10:00:00 EEST | Press release
Wolters Kluwer Legal & Regulatory today announced the integration of Libra by Wolters Kluwer AI workflows in One, its leading legal research platform in Italy. This step further reinforces the strong commercial success and rapid market adoption of the Libra legal AI workspace in the country. With the integration generative AI features are directly available in the research workflow of legal professionals allowing a seamless experience without switching between tools. The integration follows the launch of the Libra legal AI workspace in Italy in February, setting a new benchmark for AI-enabled legal research by combining advanced AI capabilities with authoritative and trusted legal content from One and supporting lawyers across their full workflow, from research to analysis and document drafting. With the newly launched Libra add-in for One, customers can use Libra’s AI functionalities for drafting, review and analysis in one unified environment, handling their work end-to-end. The solu
Rubrik Security Cloud Launches on the AWS European Sovereign Cloud8.7.2026 10:00:00 EEST | Press release
Rubrik, the Security and AI Operations Company, today announced the availability of Rubrik Security Cloud on the AWS European Sovereign Cloud, providing the European Union (EU) public sector and highly regulated private organisations with a cloud-native path for sovereign cyber resilience. Organisations increasingly require resilience measures that are sovereign, not just contractually compliant. Rubrik Security Cloud on the AWS European Sovereign Cloud meets this demand. It will allow highly regulated industries, such as banking, utilities, healthcare, and government, to leverage the full power of AWS, while meeting stringent data residency requirements within the European Union (EU). Advanced security features on a fully featured, independently operated sovereign cloud The AWS European Sovereign Cloud is a fully featured, independently operated sovereign cloud backed by strong technical controls, and sovereign assurances designed to meet the needs of European governments and enterpri
Flix and Klarna Expand Partnership to Give Millions of Travelers Across the U.S. and Europe More Ways to Pay8.7.2026 10:00:00 EEST | Press release
Flix and Klarna, the global digital bank and flexible payments provider, today announced an expanded partnership that brings more flexible payment options to millions of travelers across its platforms. Beginning today, Klarna will be available in 21 Flix markets, adding the UK, Germany, Italy, France, Poland, Switzerland, Austria, and Spain, among others, to its existing presence in the U.S. and Sweden. With Klarna now embedded directly into the Flix booking flow, passengers have three new ways to pay: in full at the time of booking, in interest-free installments, or through longer-term financing for larger purchases. For cross-border journeys, Klarna removes foreign exchange fees, letting travelers pay in their local currency with no hidden conversion costs. Klarna users will also receive exclusive deals when booking through Flix platforms. "Travel is one of the biggest spending categories in people's lives, yet flexibility at checkout has lagged behind,” said David Sykes, Chief Comme
Record Launches "Record Amanah" Sharia-Compliant Investment Platform8.7.2026 10:00:00 EEST | Press release
Record Asset Management GmbH (RAM), subsidiary of London-listed Record plc (Record Financial Group), is pleased to announce the launch of Record Amanah, its dedicated platform for Sharia-compliant investment solutions. RAM is the European asset management arm of Record Financial Group, the London-listed specialist investment group managing USD 115 billion of assets on behalf of institutional clients worldwide. Record's client base comprises pension funds, foundations, sovereign institutions and other asset managers, with whom the Group has built long-standing relationships through its focus on bespoke investment and risk management solutions. Headquartered in London, Record has offices in Hamburg, Zurich, Zug, New York, and Hong Kong. The launch follows a series of successful Sharia-compliant transactions completed by Record, most recently for a client in Brunei, and reflects growing demand from institutional investors seeking investment opportunities that combine attractive risk-adjus
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom