Arrow Capital Partners launches USD3 billion SIRE in Ireland

Arrow Capital Partners, the international investor and operator of real estate in Europe and the Asia-Pacific, has launched its USD3 billion SIRE investment business in Ireland and has capital to invest over EUR200 million over the next 24 months in industrial and urban logistics property in Ireland. 

SIRE will invest in core, core plus industrial and logistics assets yielding more than 5% together with value-add opportunities predominately in Dublin, Cork and Galway. 

Exposure is being sought to single and multi-let industrial, distribution warehouses, ‘last touch’ logistics, and vacant assets with strong lease up potential as well as land to facilitate a build to own strategy. 

The team at Arrow has been one of the largest owners of strategic industrial and urban logistics assets in Europe over the last 15 years, notably in Holland, Germany, UK, Italy, Spain and Poland. 

Arrow Capital Partners has appointed Cormac Dunne as Country Adviser, Ireland. He will be responsible for managing Arrow’s investment business in Ireland with a focus on building SIRE’s portfolio, working closely with Christian Bearman and Katherine Parker, Partners in the European business. 

Dunne is the founder of Dublin based property and financial advisory firm Pembroke Property, and is the former Head of Real Estate Ireland for Pepper Asset Servicing where he managed an €8 billion portfolio. 

Katherine Parker, Partner at Arrow, says: “We are strong believers in the sector, have capital to deploy and a strong team to manage investments. Ireland will play a key part in the SIRE success story.” 

Christian Bearman, Partner of Arrow, says: “As an investor and operator in real estate, we have flexibility around the type of acquisitions we can target. We have a longer- term investment horizon than most funds and a flexible approach to the way we consider our investments. We believe there are considerable opportunities for logistics investment in Ireland driven by the move towards e-commerce.” 

Cormac Dunne, Arrow’s Country Adviser, Ireland, says: “Following the successful launch of SIRE Europe, in which we now have over €300 million worth of assets in just over 12 months, we are excited to be launching the same strategy in Ireland.

"We will create value by acquiring and aggregating single assets ranging from EUR3 million to EUR100 million where supply/demand dynamics support above average rental growth, and where targeted capex will enhance assets for new and existing tenants.”