KKR-Mirastar acquires a logistics asset in Barcelona

On April 23rd 2020, KKR, a leading global investment firm acquired a strategic stake in Mirastar, a specialist developer, investor and manager of industrial and logistics (I&L) assets in Europe from M7 Real Estate. KKR´s aim is to expand further presence in European I&L real estate. Mirastar will be the primary platform for industrial & logistics in Europe having acquired c.800,000 sqm of I&L space over the last 24 months across France, the Netherlands, Italy, Spain and Ireland.

KKR is betting heavily in Logistics as 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¨.

On July 6th 2022, Mirastar, KKR´s Real Estate´s industrial and logistics platform acquired a logistics asset located in Sant Esteve, Barcelona with a total surface area of 9,098 square meters. In this acquisition Mirastar was advised by CBRE for commercial advice, Garrigues for legal, Savills Aguirre Newman for technical aspects and Nova Ambiente on environmental aspects.

Both sides of the transaction have expressed interest in expanding their logistics portfolio; As Alfonso Cuesta, Country manager for Iberia at Mirastar says » This acquisition strengthens our position in the key sub-market of Barcelona. Mirastar will continue its ambitious investment program in Spain working to secure a strong pipeline of both investment and development opportunities.». On KKR´s side Diederik Schol, Principal EMEA Real Estate says » This transaction is part of the latest wave of successful acquisitions in Spain, which we aim to continue as we grow our logistics portfolio across Europe».

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