KKR
5.10.2021 08:02:06 CEST | Business Wire | Press release
KKR, a leading global investment firm, and Round Hill Capital (“RHC”), a leading real estate investment, development and asset management firm, and Pulsar Properties, a renowned logistics developer in Spain of industrial, logistics and intermodal infrastructures, today announced the sale of PULSAR IBERIA LOGISTICS (“the Pulsar portfolio”), the Spanish logistics portfolio joint venture among KKR, RHC and Pulsar Properties, to P3 Logistics Parks, a long-term owner, developer and manager of European logistics properties, for €108.3m.
The Pulsar portfolio comprises ca. 112,000 sqm of big box logistics space, spanning five development schemes, throughout the Greater Madrid Region (82% of lettable area) and Barcelona Region (18% of lettable area). The portfolio is fully leased.
KKR, Round Hill Capital and Pulsar Properties formed the joint venture in October 2018 to acquire logistics investments across select areas of Spain as part of the expansion of its Southern European Logistics platform. The initial portfolio, consisting of four institutional-quality development schemes, was acquired in a joint venture with RoundHill Capital (“RHC”) from developer Pulsar Properties (“Pulsar”) in 2018. The Pulsar joint venture acquired and integrated Fontanar to the portfolio in 2020.
The Pulsar portfolio is strategically located in the strong and established logistics markets of Madrid and Barcelona, in areas with excellent transport connectivity, deep tenant demand, low vacancy rates and a very constrained supply of available logistics buildings and development land.
Seb d'Avanzo, Managing Director at KKR, commented: “We are delighted P3 Logistics Parks will be the new owner for the PULSAR IBERIA LOGISTICS portfolio.” “Logistics remains a high priority sector for us in Europe, and we have already made further investments through our second European Real Estate fund, KKR Real Estate Partners Europe II. ”
Michael Bickford, founder and CEO of Round Hill Capital, added: “The logistics sector continues to be a key focus area for the Round Hill Capital business. This sale demonstrates the effectiveness of Round Hill Capital’s strategy of using our local market expertise across Europe to source opportunities which generate attractive yield-driven returns.”
Jose Mª Alaña Arrinda, founder and CEO of Pulsar Properties, stated: “We are glad to have taken part in this project together with KKR and Round Hill Capital. The development of the pulsar portfolio has been a complete success.”
KKR’s investment was made through its Real Estate Partners Europe fund, its first dedicated European real estate fund, which closed in June 2016 with $739 million in capital commitments.
In July 2021, KKR announced the final closing of KKR Real Estate Partners Europe II, a US$2.2 billion fund dedicated to value add and opportunistic real estate investments in Western Europe. As of June 30, 2021 REPE II had already committed more than $700 million of capital principally across logistics and residential investment opportunities, with KKR’s logistics portfolio including Etche France and Mirastar Logistics. (Source REPE 1 and REPE 2 Businesswire )
Pulsar Iberia has been advised by the Real Estate team of Freshfields Bruckhaus Deringer.
--ends--
About KKR
KKR is a leading global investment firm that offers alternative asset management and 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 The 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 Round Hill Capital
Round Hill Capital is a leading global specialist real estate investment, development and asset management firm. Since inception in 2002, Round Hill Capital has acquired and repositioned for long-term institutional ownership over 135,000 residential units and student housing beds. Round Hill Capital is a responsible landlord of assets offering housing to a range of occupants, from students through to senior citizens.
Round Hill Capital’s strong sector and local expertise helps the firm to identify opportunities and invest selectively in the commercial sector and, as part of this programme, the firm has built up and continues to grow its diversified European light industrial and logistics portfolio.
Round Hill Capital has an established track record of positive returns and invests in, and asset manages real estate on behalf of some of the world’s leading institutions and private investors. Further information on Round Hill Capital is available at: www.roundhillcapital.com .
About Pulsar Properties
Pulsar Properties and its business group form a group of companies highly specialised in land management, promotion, development, and refurbishment of industrial, logistics and intermodal platforms in Spain.
Their extensive track record surpasses more than 25 years in the logistics and intermodal sector and has resulted in their company being considered by the sector as one of the main players in the development of these types of assets in Spain. Further information of Pulsar Properties is available at: www.pulsarproperties.es
View source version on businesswire.com: https://www.businesswire.com/news/home/20211004005816/en/
About Business Wire
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
Carnegie Mellon University and Cleveland Clinic Develop AI System to Interpret Cardiac MRI Scans with Enhanced Accuracy21.5.2026 14:05:00 CEST | Press release
Trained on more than 13,000 patient studies, novel system significantly outperforms existing models by up to 35% A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521762286/en/ A team of researchers from Carnegie Mellon University, in collaboration with Cleveland Clinic’s Cardiovascular Innovation Research Center, has developed an artificial intelligence (AI) system capable of interpreting some of the most complex heart scans in medicine, cardiac magnetic resonance imaging (MRI), without the need for manually labeled training data. The novel system, called CMR-CLIP, is d
Otovo Hits 30,000 Customers in Under a Year, Tackling the Growing ‘Solar Service Crisis’21.5.2026 14:00:00 CEST | Press release
A growing wave of unsupported solar systems and rising electricity prices are creating strong demand for Otovo’s energy service platform Otovo ASA (“Otovo”), a leading global energy service provider for residential and commercial customers, today announced it has reached 30,000 customers across the U.S. and Europe. A total of 20,000 customers have enrolled in Otovo Care, the Company’s membership-based home and commercial energy service, which is powered by Otovo’s industry-leading AI platform, Endurance™. “Reaching 30,000 customers in less than year is proof positive that home and business owners value their power systems,” said William J. (John) Berger, CEO of Otovo. “The ‘solar service crisis’ that is leaving millions of orphaned energy systems without support is driving strong interest in our Otovo Care membership program. Every day your home or commercial power system is not working, you are throwing money away. Otovo’s rapid response service platform keeps you up and running, ensu
The Live Moment Effect: Genius Sports and MediaScience Study Finds Specific Moments in Live Sports Can Double Unaided Brand Recall21.5.2026 14:00:00 CEST | Press release
New research shows that brands aligned with emotionally heightened moments in live sports can improve ad effectiveness Genius Sports Limited (NYSE: GENI), a global leader in real-time sports data, today released new biometric research conducted with MediaScience showing that ads delivered immediately after emotionally heightened moments in live sports can double unaided brand recall. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521475265/en/ The Live Moment Effect report from Genius Sports and MediaScience. The study, The Live Moment Effect, finds that advertising effectiveness is significantly influenced by a viewer’s emotional state immediately before an ad is shown. In controlled biometric testing, ads shown after high-intensity sporting moments, such as near-scoring plays or crucial momentum shifts, delivered approximately double the unaided brand recall of baseline conditions. The Moment Before the Ad Matters The r
Merck Announces First Patient Dosed in Phase 3 Study for Investigational Antibody-Drug Conjugate in Colorectal Cancer21.5.2026 14:00:00 CEST | Press release
Precemtabart tocentecan (Precem-TcT) is investigated as a potential first-in-class anti-CEACAM5 ADC, for the treatment of metastatic CRC (mCRC) CEACAM5 is overexpressed in the majority of colorectal tumors (~90%), and requires no patient selection Significant unmet need remains for clinically meaningful innovation in colorectal cancer (CRC), the second leading cause of cancer death worldwide Not intended for Canada-, UK- or US-based media Merck, a leading science and technology company, today announced that the first patient has been dosed in the Phase 3 PROCEADE®-CRC-03 trial (NCT07549412). The study is evaluating precemtabart tocentecan (Precem‑TcT), a potential first‑in‑class investigational anti‑CEACAM5 antibody‑drug conjugate (ADC), for the treatment of metastatic colorectal cancer (mCRC). “Leveraging our novel payload‑linker technology, Precem‑TcT is the first CEACAM5‑targeted ADC in clinical studies with an exatecan payload, rationally designed for stability and enhanced cancer
Baszucki Group Funds Oxford University Clinical Trial of Ketogenic Therapy for Early Psychosis21.5.2026 13:00:00 CEST | Press release
Randomized controlled trial will evaluate both symptom progression and underlying biology Baszucki Group today announced a £1.17 million grant to support a randomized controlled trial at the University of Oxford assessing the feasibility, safety, and efficacy of a ketogenic diet for patients at clinical high risk of psychosis (CHR-P). Researchers will test this nutritional therapy's ability to improve patients' mental and physical health. This project builds on a growing body of research suggesting the potential of metabolic therapies in treating serious mental illness. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521877110/en/ Baszucki Group Funds £1.17 Million for University of Oxford Trial of Ketogenic Therapy for Early Psychosis Psychotic disorders carry a massive personal burden and are associated with a lower life expectancy. Psychosis does not develop immediately, but typically emerges following a period of early
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