KKR-backed firm also makes Italian debut as it targets the creation of a €4bn portfolio.

• What Mirastar has completed six new deals in the UK adding £260m to its portfolio in the country
• Why It is aiming to build a pan-European portfolio as large as €4bn alongside partner KKR
• What next It is looking to enter more new jurisdictions following its debut in Italy

Mirastar has completed a flurry of new acquisitions in the UK that will add around £260m to the firm’s portfolio, React News can reveal.

The KKR-backed investor, developer and asset manager has completed the acquisition of four investment properties across separate transactions totalling £160m, which together add 1m sq ft to its holdings.

It has bought an asset in Magna Park in Lutterworth from M7 Real Estate and Centerbridge, Axis J9 in Bicester from Albion Land, Port One Logistics Park in Ipswich from Curzon de Vere and an asset on Weston Avenue in Thurrock from Lothbury Investment Management. Tenants across the projects include Primark, FDS and Marks & Spencer.

Additionally, Mirastar has bought two UK development projects, which will have a combined end value of around £100m. It has acquired a project at Milton Hill near Abingon from petrol giant Esso and a scheme in Gorsey Point, Widnes from Marshall, which will together add around 950,000 sq ft to its pipeline.

Combined with its 440,000 sq ft Arterial Park scheme in Rayleigh, Mirastar now has a committed UK development pipeline of over 1.3m sq ft. Having acquired the L’Oreal distribution centre near Bury last November, the company now has a total UK portfolio of 2.5m sq ft across eight locations.

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This article first appeared in Green Street News on 29th March 2021 and was written by David Hatcher.