Arrow Capital Partners secures EUR200 million of acquisitions for SIRE
Arrow Capital Partners has completed or secured exclusivity on approximately EUR200 million of acquisitions in Germany, Spain, the Netherlands, Poland and the UK since launching its EUR2 billion SIRE joint venture in July this year.
In Germany, Arrow has acquired a distribution asset in Leipzig. The capital value of the asset was EUR890 per sq m and the asset has excellent ‘last-mile’ characteristics and forms part of an important logistics cluster that is close to Leipzig International Airport, which is one of DHL’s global hub airports, as well as a major Porsche manufacturing facility.
In Spain, Arrow has acquired a three-asset portfolio of logistics assets, reflecting a capital value of EUR372 per sqm. Located in Vilamalla(Gerona), Tortosa (Tarragona) and Fuenta de Piedra (Malaga), the properties are fully let to Miquel Alimentació Grupo, the second largest cash and carry business in Spain.
In the Hague in the Netherlands, Arrow has acquired the Viaductweg multi-let light industrial asset, reflecting a capital value of EUR990 per sq m. Comprising 19 units, the estate is 98% let to 17 occupiers that service City centre businesses and consumers. Located centrally, Viaductweg has strong asset management potential.
In addition, Arrow is active or in exclusivity on several potential acquisitions across Italy, Nordics, France and CEE.
Katherine Parker, Partner, Head of Investment Management at Arrow Capital Partners, said: “We are encouraged by the progress we’ve made so far since launching SIRE, having completed or secured exclusivity on approx. EUR200 million of acquisitions across multiple regions.
“The SIRE portfolio will have a diverse European geographic distribution, backed by a focus on ‘last-mile’ logistics and light industrial locations across strategically important cities and transport hubs. We are actively seeking opportunities in the 5-7% NIY range.
“As an investor and operator in real estate, we have flexibility around the type of acquisitions we can target. For example, we have a longer-term investment horizon than most funds and we can continue to work with local skilled asset managers who seek an alternative capital partner.”
Arrow has already acquired, managed and transacted more than EUR1.0 billion of deals across Europe and Asia over the last 12 months and has a team based out of 6 offices globally.
Arrow targets equity and debt investment opportunities, specialising in cross-border transactions where it can use its platform and balance sheet to invest with its US and Asia-Pacific capital partners into Europe, as well as European and US investors into the Asia-Pacific region.