Cerberus Capital Management has provided an £88 million loan to KKR's Mirastar to finance three logistics properties in the UK, said two sources familiar with the situation.
The properties are in Barking, Thurrock and Wembley. In 2020 and 2021, Mirastar spent £106 million on three properties in these locations, according to CoStar data.
It bought the following properties:
- Gascoigne Road in Barking (£36.1 million)
- 274-275 Abbeydale Road in Wembley (£32.1 million)
- Weston Avenue, Thurrock, Grays, Essex (£38 million)
KKR became a major investor in Mirastar in 2020, a year after it was founded by Ekaterina Avdonia and Anthony Butler. In addition to the UK, the company has bought property in the Netherlands, Italy, France and Spain.
In September 2022, the company hired Douglas Martinsson from EQT Exeter to spearhead an investment drive into the Nordic region. However, Martinsson left after eight months in the job, according to his LinkedIn profile. The company’s website does not list any properties in the Nordic region.