Duo targeting large-scale core logistics deals to match investor’s diversified capital base
11 Jun 2026, United Kingdom – KKR and Mirastar are in advanced talks to buy two UK logistics portfolios for £570m, Green Street News can reveal.
The off-market deals with Ares Management and PLP will add around 11 assets totalling in the region of 4.5m sq ft to the investor and asset manager’s portfolio.
The core, net-lease nature of the assets marks something of an evolution for the duo as they target transactions of scale to match liabilities across KKR’s diversifying pools of capital. They have historically focused on core-plus and value-add opportunities.
The larger of the two deals is a £400m trade with Ares. The bespoke portfolio is made up of around six assets, which are currently held in a combination of GLP heritage vehicles and traditional Ares funds. Following Ares’ acquisition of the GLP Capital Partners ex-China business last March, it now manages funds raised by GLP through its logistics platform Marq.
Assets in the 2.6m+ sq ft collection include the 602,000 sq ft Mammoth 602 let to Maersk and a 278,000 sq ft unit let to Lumira, both at G-Park Doncaster, the 588,000 sq ft Magna Park Corby 3 let to Bleckmann and the 245,000 sq ft Aylesford 245 let to Must Have Ideas.
Pealing away from PLP
The £170m deal with PLP involves the acquisition of five assets of more than 1.5m sq ft that are currently owned across PLP’s UKLV and UKLV2 vehicles. Its first vehicle was backed with £500m of equity from La Caisse, Macquarie and Peel in 2017. The second vehicle was backed by La Caisse and Peel, with the Greater Manchester Pension Fund also investing in the £750m fund, although Macquarie did not participate.
The assets being sold are located at logistics complexes including PLP Wakefield, PLP Elsmere Port and PLP Stafford.
The deal builds on a previous £110m portfolio sale by PLP to KKR and Mirastar in 2024 that involved five assets totalling 890,000 sq ft.
The two live deals are expected to sign across in the coming weeks.
Through Mirastar, KKR currently has €2.7bn of assets under management totalling almost 10m sq ft across the UK, France, Germany, Sweden, Italy, Spain and the Netherlands.
KKR has backed Mirastar since 2020, when it bought a 50% stake in the platform, which is led by chief executive Ekaterina Avdonina. In September last year KKR bought the remaining 50% of the business from management.
DTRE is advising KKR on both deals. Eastdil Secured is advising Ares. CBRE is advising PLP.
Published on Green Street News on the 11th June 2026. Article written by Chris Borland and David Hatcher.
About Mirastar
Mirastar is a pan-European logistics developer, investor and asset manager, founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, former Chief Investment Officer. The team currently comprises senior real estate professionals based in London, Paris, Stockholm and Frankfurt. The team at Mirastar have deployed over €20 billion of capital across key European markets and have built and constructed in excess of 4 million square meters of logistics assets collectively.
