KKR's Mirastar expands in Italy with logistics buy

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 41,400 m2 for an undisclosed amount.

The two acquisitions have been executed by the Italian real estate fund, Star Pas Ita, managed by Namira Sgr.

These deals are part of Mirastar’s last mile and infill aggregation strategy across Europe focusing 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.'
Earlier this year Mirastar reinforced its Southern European team with the appointment of Alfonso Cuesta as country manager for Iberia.
Cuesta has over 20 years of experience in the Real Estate sector, and previously held senior roles at British Land, PWC and Mitiska.
The Southern European development team was also reinforced with the hiring in March of Dario Da Ros in Italy and José María Rueda in Spain as development managers. Da Ros has more than 20 years of experience primarily with Bricoman and Aldi while José María Rueda has seven years of experience in the residential sector primarily with Gestilar.


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