KKR grows European industrial portfolio with four Dutch assets buy

KKR grows European industrial portfolio with four Dutch assets buy

KKR-Mirastar logisitcs platform has expanded its European portfolio with the acquisition of four industrial assets in the Netherlands.

The four assets are located in Eindhoven and Wijchen, strategic locations that comprise the South Netherlands’ primary logistics distribution corridor between Rotterdam and the German border.

According to the company, both cities are attractively sited for logistics assets, with strong industrial sub-markets benefiting from multi-modal transportation close to major transport routes in the Netherlands. Mirastar will manage the assets.

KKR said this transaction is its 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, added: “We are excited to continue growing our industrial portfolio in one of Europe’s top distribution markets with this high-quality portfolio. 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.”