KKR and Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, are investing in a last-mile logistics property in Stockholm.
The off-market acquisition is the first in Sweden for KKR and Mirastar, and the second in the Nordics this year for KKR through its European Core+ Real Estate strategy, following the acquisition of a residential portfolio in Finland in May.
The new owners said they had bought a property of around 12,500 m2 of new build with strong ESG credentials and will be acquired with a partial pre-let to Adelphos Healthcare AB, a developer and marketer of healthcare products.
The building is situated in Botkyrka, a prime location in southwest Stockholm.
Anthony Butler, CIO and co-founder at Mirastar, said: ‘To buy a new build of this quality in such a sought-after and supply-constrained location is a rarity in Stockholm. We are delighted to be entering Sweden with an acquisition that aligns so closely with our regional strategy, and we look forward to building out our presence across the Nordic region.’
Alexander Thams, director and head of Nordics real estate at KKR, added: ‘Last mile logistics is a key sub-sector in KKR’s European real estate strategy. The rapid expansion of e-commerce continues to drive occupier demand, further enhanced by the re-shoring of supply chains becoming a higher priority for businesses. We will look to rapidly grow our industrial and logistics portfolio in the Nordics alongside Mirastar over the coming years, in line with our Europe-wide focus on this sector.’
KKR and Mirastar were advised by JLL, CBRE, Roschier, Tjuren and Svalner.
