KKR
11.4.2022 09:02:05 CEST | 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220411005074/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
Worldwide First: Biedermann Motech Further Expands its MOSS!MODULARITY Platform with the Addition of MOSS EOS for Early Onset Scoliosis Surgery5.10.2026 11:00:00 CEST | Press release
Biedermann Motech, the prominent innovator in next generation spinal and extremity implant systems and procedural solutions, today announced the selective market introduction of the MOSS EOS® System for the treatment of children with severe early onset scoliosis.1 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261005092768/en/ Early Onset Scoliosis is a rare pediatric disease where in certain cases surgical intervention can be indicated.2 Breaking new ground, Biedermann Motech will now introduce the world’s first MOSS EOS System featuring MOSS!MODULARITY™ to selective markets outside the U.S. The MOSS EOS System encompasses a modular platform of products and technologies for growth friendly pediatric spinal deformity surgery. Prof. Dr. Heiko Koller from Germany, one of the innovators behind the MOSS EOS System, carried out the first surgeries. His feedback was that the versatility of the system offers surgeons a broad range
LTM Launches BlueVerse™ AgenTraceIQ5.10.2026 10:30:00 CEST | Press release
Offering stems from Rubrik’s Project Hourglass, an alliance helping organizations scale agentic AI securely LTM, the Business Creativity partner to the world's largest enterprises, today announced the launch of BlueVerse™ AgenTraceIQ, an offering designed to help organizations securely adopt and scale agentic AI. Combining Rubrik Agent Cloud with LTM's AI governance and managed services expertise, the offering enables organizations to monitor AI agents, establish guardrails, and rewind unintended agent actions across business-critical environments. Aspart of Rubrik’s Project Hourglass, LTM and other elite Global Systems Integrators partner with Rubrik, the Security and AI Operations Company, to deliver Rubrik Agent Cloud for Anthropic's Claude Code to their enterprise clients. The collaboration strengthens the ability for organizations to adopt agentic systems with the necessary security, governance, and resilience at scale. "As AI agents increasingly act autonomously, the stakes for e
Logistics Reply Introduces the LEA AI Agent Authority Model - Bringing Governed Agentic AI Into Warehouse Execution With LEA Dynamic Intelligence5.10.2026 10:00:00 CEST | Press release
Logistics Reply, the Reply group company specializing in innovative solutions for supply chain execution and warehouse management, today unveiled the LEA AI Agent Authority Model, a new practical framework delivered alongside LEA Reply Dynamic Intelligence, enabling organizations to deploy AI agents with the right authority for each task—not maximum autonomy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261005360127/en/ Logistics Reply introduces the LEA AI Agent Authority Model, a new practical framework delivered alongside LEA Reply Dynamic Intelligence, enabling organizations to deploy AI agents with the right authority for each task—not maximum autonomy. As AI moves from assistance into live warehouse execution, organizations need a governed way to decide how much authority agents should have in each operational context. Without clear criteria, adoption can stall or place additional risk on operational teams. The aim i
Technology Innovation Institute Completes Asteroid-Landing Probe for Landmark Emirates Mission to the Asteroid Belt5.10.2026 09:42:00 CEST | Press release
In a first-of-its-kind mission, TII’s probe aboard the MBR Explorer will journey past six asteroids in the main belt before landing on 269 Justitia, making it only the seventh asteroid in history to be reached on its surface by a probeDesigned, built and tested in Abu Dhabi, TII’s probe is the mission’s only deployable payload, operating fully autonomously around and on JustitiaThought to have formed in the distant Kuiper Belt in the outer Solar System, 269 Justitia may preserve clues to how water and organic material were distributed during the formation of the planetsWatch the EMA hero film here The Technology Innovation Institute (TII) has revealed the UAE-built probe it has developed for the Emirates Mission to the Asteroid Belt (EMA). The probe will soon travel to Colorado, USA, for final integration with the MBR Explorer spacecraft ahead of its planned 2028 launch. In a historic first, TII’s probe will image two planets and seven asteroids — flying past six asteroids in the main
JEOL: Sales launch of HAXIS: The New Low-angle Ion Milling Scanning Electron Microscope5.10.2026 09:30:00 CEST | Press release
JEOL Ltd. (President & CEO Izumi Oi) announces the development of its new low‑angle ion‑milling scanning electron microscope, HAXIS, and will commence sales on October 5, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260928207899/en/ HAXIS Low-angle Ion Milling Scanning Electron Microscope HAXIS Low-angle Ion Milling Scanning Electron Microscope Background of development As advanced semiconductor device structures continue to shrink and grow more complex, it has become difficult to contact and measure microscale circuits using nano-manipulators. In addition, contact caused by probing may affect the analysis target, necessitating new failure analysis methods. JEOL has conducted long-term research on the passive voltage contrast (PVC) detection technology and established a method for stable, highly reproducible PVC observation technology through the advancement of detectors and sample preparation techniques. HAXIS is JE
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