Prologis has acquired three new logistics assets in the Netherlands from KKR’s European industrial and logistics real estate platform.
The industrial real estate investment company has invested an undisclosed amount to buy the 127,000sqm Tristar portfolio from KKR’s Mirastar.
KKR said its original investment in the Dutch portfolio, located in Bleiswijk, Schiphol and Roosendaal, was made in 2020 through the Real Estate Partners Europe II fund.
“We are excited Prologis has recognised the quality of these logistics assets, with excellent environmental credentials and state-of-the-art specifications in prime Dutch logistics locations,” Diederik Schol, principal in KKR’s European real estate team said.
Schol said the Netherlands continues to be a key market for KKR across both its core-plus and value-add strategies and “we continue to actively seek investment opportunities, particularly in the industrial and residential sectors”.
Ekaterina Avdonina, Mirastar’s CEO and co-founder, said: “Since launching our first joint venture with KKR over two years ago, we have assembled a portfolio of high-quality development projects and standing assets across Europe.
“These assets are situated in established logistics locations and are meeting the high demand for space including excellent ESG credentials. The sale of the Tristar portfolio is the first one since the launch of the JV and we look forward to working with KKR on continuing to assemble high-quality developments and standing assets.”
Anthony Butler, CIO and co-founder at Mirastar, said: “We were fortunate to execute the business plans for these assets in a short timeframe supported by strong demand for well-located industrial and logistic assets.
”The portfolio’s unique locations, designs as well as a tenant mix make this an attractive investment. We look forward to expanding our platform with KKR.”
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