KKR’s European industrial and logistics real estate platform has added two assets in Itlay to its portfolio.
KKR’s Mirastar has invested an undisclosed sum to buy the two logistics assets located in Origgio, Milan and Settimo Torinese, Turin.
The 41,400sqm portfolio was acquired from Star Pas Ita, an Italian real estate fund managed by Namira.
The acquisition is part of Mirastar’s last mile and “infill aggregation strategy across Europe focussing on best in class locations with strong occupier demand”, the company said.
Daniele Calogiuri, country manager for Italy at Mirastar, said: “These buildings are located in two of the most important Italian logistic markets, Milan and Turin, and are fully let to strong covenants with high reversionary potential.”
Calogiuri said Mirastar is also currently active in some important development projects as part of executing its investment and development programme across Italy.
Diederik Schol, principal in EMEA real estate at KKR, said: “We are glad to add these good quality, well-located Italian assets to our European logistics portfolio at attractive pricing, and aim to continue expanding our portfolio across Italy.”