The portfolio, consisting of four high-quality logistics properties, comprises a total of approximately 45,000 sq m lettable floor area. The properties are located in Eindhoven and Wijchen – a highly strategic location near the port of Rotterdam and the German border.

This is KKR's first transaction as part of its pan-European Core Plus Real Estate strategy. Mirastar will be managing the assets. The selling parties are local developers Van Schijndel Vastgoed B.V. en Bouwbedrijf L. van de Ven BV.

Douglas van Oers, Co-Head of Industrial & Logistics at Savills in the Netherlands, says: "We expect the logistics floor area in the Netherlands to double by 2050, at the same time carbon emissions from transport and logistics must be firmly on the path towards zero. This is still a major challenge because there is still no mandatory energy label for logistics assets. Analysis by Savills shows that no less than 64% of Dutch warehouses do not have an energy label. I believe the demand from buyers for sustainable criteria is a very positive stimulus in making the logistics sector 'Paris Proof', as was the case with our client KKR/Mirastar."

Ian Williamson, Managing Director and Head of Core Plus Real Estate in Europe at KKR, says: "These logistics assets have strong ESG-credentials, and our business plan includes transitioning them to the highest level by supporting de-carbonisation in-line with the Paris Climate Agreement.”

Diederik Schol, Head of KKR's European Real Estate team, adds: "The Netherlands continues to be a key market for us across both Core Plus and Value-Add, particularly in the industrials and residential sector."