Prologis has acquired three new logistics assets in the Netherlands from KKR鈥檚 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鈥檚 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.
鈥淲e 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,鈥� Diederik Schol, principal in KKR鈥檚 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 鈥渨e continue to actively seek investment opportunities, particularly in the industrial and residential sectors鈥�.
Ekaterina Avdonina, Mirastar鈥檚 CEO and co-founder, said: 鈥淪ince 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.
鈥淭hese 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.鈥�
Anthony Butler, CIO and co-founder at Mirastar, said: 鈥淲e 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.
鈥漈he portfolio鈥檚 unique locations, designs as well as a tenant mix make this an attractive investment. We look forward to expanding our platform with KKR.鈥�
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