Global investment firm KKR and Mirastar, its European industrial and logistics platform, have finalised the acquisition of four prime UK logistics properties from developer PLP. The deal is valued at roughly £170 million and covers 1.25 million square feet.

The portfolio spans key logistics hubs across the West Midlands, the North West and Yorkshire, with sites located in Stafford, Crewe, Ellesmere Port and Wakefield. Built to institutional specifications, the properties carry a weighted average lease term to break of 10 years and are fully let to a varied tenant base across third-party logistics, retail distribution and e-commerce. Parent companies with investment-grade credit ratings account for around 60% of the total rent roll.

Environmental features form a core component of the developments. All four sites include rooftop solar photovoltaic systems, achieving EPC ratings of A alongside BREEAM ratings between Very Good and Excellent. DTRE provided advisory services to KKR and Mirastar, while CBRE acted for PLP on the transaction.

Ekaterina Avdonina, CEO and Co-Founder at Mirastar, said: “This acquisition reflects our continued conviction in the long-term fundamentals of the UK logistics sector. The portfolio’s high-quality assets, strong occupier base and resilient income profile provide an excellent foundation for value creation, and we look forward to leveraging Mirastar’s operating expertise to support the assets’ continued growth and performance.”

Seb d’Avanzo, Co-Head of European Real Estate Equity at KKR, added: “This transaction demonstrates our ability to deploy capital at scale into high-quality core real estate assets and reflects our conviction in the long-term outlook for the logistics sector. We continue to see attractive opportunities to invest in assets that benefit from long-term structural trends and generate durable cash flows for investors.”

Neil Dickinson, Chief Investment Officer at PLP, said: “We’re delighted to complete the sale of this portfolio, which demonstrates our ability to identify opportunities, execute our business plan and create meaningful value for our investors. The transaction reflects the quality of the assets, the hard work of our team and continued demand for well-positioned real estate. We remain excited by the opportunities we see in the market and look forward to deploying capital to develop the next generation of investments.”