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
China's ~$900B Live-Commerce Market Now Approaches US E-Commerce Scale17.7.2026 13:30:00 EEST | Press release
The center of gravity in global retail has shifted East. The formats now driving the fastest growth in global retail (live shopping, social commerce, and delivery in minutes) were pioneered and scaled in Asia, and most Western consumers have yet to adopt them. According to NIQ (NYSE: NIQ), a leading consumer intelligence company, in its global report The Commerce Revolution: Where East Meets West, the gap between East and West is still vast. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260717253489/en/ China´s USD 900bn live shopping boom now approaches the scale of the US E-commerce The scale is already substantial. China's live-commerce market alone was worth roughly $900 billion in 2025, approaching the size of the entire US e-commerce market, according to market data cited in the report. Yet 68% of consumers in North America and 67% in Europe have never once bought a product through social media, and roughly two-thirds
Aqemia and Sanofi Expand Their Research Collaboration17.7.2026 13:30:00 EEST | Press release
Aqemia, the drug invention company combining generative AI and quantum-inspired physics to invent small molecule drugs, today announced the expansion of its multi-year research collaboration with the global pharmaceutical company, Sanofi. The expansion is marked by the nomination of a new therapeutic target and an additional payment. The collaboration, first announced in December 2023, makes Aqemia eligible to receive up to a total of $140 million in upfront and milestone payments across programs. It spans the drug discovery journey from the identification of the very first hits to the selection of a development candidate. Aqemia leverages Qemi, its proprietary physics-based generative AI platform, to design novel molecules addressing Sanofi’s targets of choice, working in close collaboration with Sanofi scientific teams. Sanofi leads wet lab research, development and commercialization. The collaboration now runs across continents, between Aqemia researchers in Paris and London and San
Ant International’s Alipay+ Connects Argentina's National QR Payment Scheme via PVS, Enabling for Cross-Border Digital Payment Nationwide at Millions of Merchants17.7.2026 13:17:00 EEST | Press release
Alipay+, a global digital payment gateway under Ant International, today announced that it will enable global travellers to make QR code payments at millions of merchants across Argentina through integration with the country's national QR payment scheme Transferencias 3.0, in partnership with PVS, a fintech company specialized in developing customized payment solutions in Latin America. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260717276406/en/ By connecting to Argentina's national QR payment scheme, Alipay+ now enables global travellers in the country to make convenient QR code payments at merchants nationwide. This service helps to enhance global travellers' travel experiences in Argentina, allowing them to pay seamlessly at restaurants, malls and tourist attractions. Using an Alipay+ partner payment app, they can now scan the national QR code displayed at all merchants to make cross-border payments across Argentina,
KATE Launches "KABUKE: Break Convention" Kabuki-Inspired International Campaign17.7.2026 10:00:00 EEST | Press release
Global cosmetics brand KATE launched “KABUKE: Break Convention,” a new international campaign drawing on elements of Kabuki, the traditional Japanese performing art. The campaign debuted on Wednesday, July 8, 2026. In this campaign, KATE’s shadow enhancing makeup—rooted in Japanese aesthetics—was paired with the Kabuki spirit inherited from traditional Kabuki theater to communicate the value of individuality and self‑expression through makeup on a global scale. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708829427/en/ KATE international campaign “KABUKE: Break Convention” key visual. Dedicated website: https://www.kate-global.net/my/special/kate_kabuki/ Since its founding, KATE has championed the slogan “NO MORE RULES.,” offering makeup that defies convention and empowers individuals to express their identity and bring out confidence. At the heart of this vision is the brand’s signature shadow enhancing makeup approach
Yoshihiro Shimamura Joins the Marché du Film’s “Investors Circle 2026” as an Invited Investor, Backing a New Feature Film17.7.2026 04:00:00 EEST | Press release
Shimamura Yoshihiro Film Production Co., Ltd. (Head office: Osaka, Japan; Representative Director: Yoshihiro Shimamura), a company active in film production and investment, today announced that Representative Director Yoshihiro Shimamura has decided to invest in an international feature film after being invited to the “Investors Circle 2026” — a distinction that reflects his standing as one of the field’s most highly regarded producers and investors. Hosted by the Marché du Film, the business arm of the Festival de Cannes and one of the world’s largest film markets, the Investors Circle is an invitation-only summit that connects a select group of private investors with high-end feature films during early-stage financing. Held in Cannes, France, May 16-17, 2026, it brings internationally acclaimed directors and producers together with investors around a curated slate of projects in development. During the summit, Shimamura attended private pitching sessions and, after individual meeting
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