(RTTNews) – Global investment firm KKR & Co. Inc. (KKR) said that along with Mirastar, KKR Real Estate’s European industrial and logistics platform, it has acquired a 2.7-million-square-foot portfolio of eight UK logistics assets from Ares Real Estate funds.
The company said that the portfolio includes modern, high-quality properties in established distribution markets across the Midlands, South East and North of England, including Corby, Doncaster, Stoke-on-Trent and Milton Keynes. The assets have the benefit of strong connectivity to major population centres and key transport hubs.
According to KKR, the portfolio is fully occupied, with a weighted average lease term to break of nine years and a diversified tenant base. Approximately 60 percent of the rent roll comes from investment-grade tenants or subsidiaries of investment-grade parent companies, it added.
On the NYSE, KKR ended Monday’s trading at $100.83, up $2.02 or 2.1 percent. In pre-market trading, the stock was up 0.01 percent at $100.84.