KKR and Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, have acquired a large UK logistics portfolio from Ares Real Estate funds. The transaction covers eight logistics properties totaling approximately 2.7 million square feet across the United Kingdom. Published reports place the value of the fully occupied portfolio at about £400 million, or roughly US$529 million.
The assets are described as modern, high-quality logistics facilities located in established distribution markets in the Midlands, South East and North of England. Specific locations within the portfolio include Corby, Doncaster, Stoke-on-Trent and Milton Keynes. According to KKR and Mirastar, the properties benefit from strong connectivity to key population centers as well as major transportation infrastructure, underscoring their role in national distribution networks.
Mai-Lan de Marcilly, co-head of European real estate equity at KKR, said the firm continues to see strong underlying fundamentals in the UK logistics sector. She cited resilient occupier demand alongside constrained supply in key markets as drivers of performance. De Marcilly characterized the portfolio as offering a combination of durable income and meaningful growth potential and noted that it aligns with the types of opportunities KKR seeks to target through its diversified pools of capital.
KKR and Mirastar were advised on the transaction by DTRE and DLA Piper. The portfolio is fully let, which supports immediate income generation from the assets. No additional details were disclosed about lease terms, tenant mix or remaining lease durations, and no financing details were specified in the available information.
The acquisition builds on previous logistics activity by KKR and Mirastar in the UK. In late July, the firms announced the purchase of a separate portfolio of four prime UK logistics assets from PLP for approximately £170 million. That earlier transaction comprised around 1.25 million square feet of space, further increasing KKR and Mirastar’s exposure to the UK logistics market.
With the completion of the Ares portfolio acquisition, KKR and Mirastar expand their logistics footprint across multiple regional distribution hubs in England, adding scale in a sector they describe as supported by solid demand and limited new supply in key locations.
