49,000 sq m asset is leased to logistics specialist Fiege and retailer Rossman.

• What KKR and Mirastar have acquired a logistics facility in Hanover, Lower Saxony
• Why There is high demand for well-located and ESG compliant assets in Germany
• What next Duo to further expand footprint in the German prime logistics market

KKR and Mirastar have acquired a logistics facility in Hanover, Lower Saxony, in an off-market deal, marking their first acquisition of its kind in Germany. 

An Austrian public retail fund managed by Union Investment Real Estate Austria was the seller.  

The deal is also KKR’s first German investment for its European core-plus real estate strategy.  

Developed in 2017, the 49,000 sq m (527,400 sq ft) asset is leased to logistics solutions provider Fiege and drugstore chain Rossmann. This modern prime logistics property has strong ESG credentials, having achieved DGNB Platinum certification, and benefits from close access to the A7 and A2 highways. 

KKR and Mirastar plan to install solar panels on the property’s roof to further enhance its sustainability credentials. 

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This article first appeared in Green Street News on 14th June 2024 and was written by Lovelyn Tagalag.