
KKR Acquires Major Share of Mirastar to Broaden its Grip on European Logistics
KKR acquires major shares in Mirastar to extend its reach in the Industrial and Logistics Assets across Europe
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CIO Applications Europe | Tuesday, May 05, 2020

KKR acquires major shares in Mirastar to extend its reach in the Industrial and Logistics Assets across Europe
Fremont, CA: A renowned global investment firm, KKR, and Mirastar, a developer, investor, and manager of specialized industrial and logistics (I&L) assets in Europe, signed a deal of strategic stake acquisition in Mirastar from M7 Real Estate.
The acquisition will further extend KKR’s presence in the field of I&L and European real estate. Until now, KKR and Mirastar have acquired more than 49,000 sqm forward funding projects in the Netherlands and aim to carry on assembling a high-profile presence among assets and development projects in gateway cities across the region of Western Europe. Mirastar will be the primary platform for I&L real estate transactions that occur in Europe.
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KKR also boasts of a significant track record in the I&L real estate market throughout Europe by acquiring c.8000 sqm of I&L space over the duration of the last two years in France, the Netherlands, Italy, Spain, and Ireland. The investment in Mirastar was fulfilled via a European real estate fund maintained by KKR.
The company, Mirastar, was formed in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer, with a basic foundational platform and backing from M7 Real Estate. The team currently employs 15 senior real estate professionals and has offices in London, Madrid, and Rotterdam.
Guillaume Cassou, Partner and Head of European Real Estate at KKR, commented: “Logistics real estate continues to be an attractive market for KKR, despite the challenges of the current market environment, with strong investment fundamentals and future growth drivers. We look forward to building on our existing relationship with Mirastar to leverage these trends, investing in the continued supply of high-quality assets to meet the growing tenant demand evident across Europe and further building KKR’s footprint in European logistics.”
Ekaterina Avdonina, CEO of Mirastar, commented: “Against the difficult market backdrop prompted by the outbreak of Covid-19, our conviction in the underlying, long-term structural forces behind the growth of logistics real estate remains. Since launching last year, we have demonstrated our ability to execute our strategy and, by extending our strong working relationship with KKR, we look forward to building on that further. We have identified an attractive pipeline and are well placed to act on opportunities in the market.”
Anthony Butler, CIO of Mirastar, said: “We are grateful to M7 Real Estate for the initial backing, and now that our platform is more established, we will continue to expand across more geographies with the support of KKR, as both shareholder and primary investor. Due to our combined development and investment expertise along with the backing of a world-class investor, the future looks very exciting as the logistics sector continues to strengthen at a faster pace.”
Check out: CIOReview Europe
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