London/Milan, 1 September, 2022. Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, has acquired two off-market logistics assets located in Origgio (Milan) and Settimo Torinese (Turin), with a total surface area of c. 41,400 square metres.
These deals are part of the joint venture’s last mile and infill aggregation strategy across Europe focussing on best in class locations with strong occupier demand.
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. Mirastar is also currently active in some important development projects as part of executing its ambitious investment and development program 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."
The two acquisitions have been executed by the Italian Real Estate Fund STAR PAS ITA, managed by Namira SGRpa.
Mirastar was advised by Osborne Clarke, Savills and Nova Ambiente, in legal, technical and environmental aspects, respectively. Additionally, in the Origgio transaction C&W was commercial advisor, while in Settimo Torinese, Gabetti acted as broker and JLL as commercial advisor.
About Mirastar
Mirastar is a specialist pan-European developer, investor and manager of big box logistics co-founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer. Mirastar has a high-quality portfolio of assets/development projects across UK, Netherlands, Spain and Italy with an exit GDV in excess of €2.5B. Mirastar comprises a team of over 40 senior real estate professionals with over 350 years of total experience and has offices in London, Madrid, Amsterdam, Stockholm and Milan.