Arrow makes acquisitions in Rotterdam and Utrecht
Arrow Capital Partners has acquired two new assets in the Netherlands for its EUR3 billion Strategic Industrial Real Estate (SIRE) platform, one in Rotterdam and the other in Utrecht.
The Rotterdam asset is being sold and leased back by ElektroCirkel Group, a wholesaler specialising in high- quality lighting and electronic products, components and equipment, including its own Calex brand. The property provides industrial and logistics space of 10,000 sq m and is located on Business Park Rotterdam Noord- West. It adds to the three assets SIRE already owns on the estate with SIRE now owning six assets in Rotterdam alone.
The Utrecht asset provides industrial and logistics space of 7,318 sq m and is strategically located on De Wetering-Noord next to the A2 motorway. This is SIRE’s first Utrecht asset and completes its Randstad presence in all main G4 cities. The high specification property is currently vacant and is now available for leasing in a market with a scarcity of supply and growing demand.
Martien van Deursen, Head of Benelux at Arrow, says: “The acquisitions of these two high quality properties continue SIRE’s investment in light industrial and logistics assets which are benefiting from the lack of available suitable space and the rapid growth of occupier demand.
“We are accelerating our deployment of capital in the Benelux and in Europe as a whole, with a pipeline of opportunities already in place. Our portfolio and pipeline in the Netherlands now comprise more than EUR150 million in assets including developments, while more acquisitions will be announced as we build the portfolio and platform. Over the next three years, we intend to invest over €500m in the Benelux, including in large assets with income, vacancy or refurbishment potential.”
Arrow was advised by Shield Capital on the Utrecht asset.