Arrow acquires industrial site in Riegel
Arrow Capital Partners, an investor and operator of real estate in Europe and Asia-Pacific, has acquired an industrial site in Riegel in the south of Germany on behalf of its EUR3 billion Strategic Industrial Real Estate (SIRE) platform, from a private investor.
The 21,320 sq m site includes a logistics building of 9,200 sq m. It is currently largely let out to Lekkerland, the solutions provider to the convenience sector owned by REWE, the major German grocery chain.
Danilo Hunker, Head of Germany, at Arrow, says: “This latest acquisition strengthens SIRE’s position in the German industrial and logistics sector. It is an investment in an established logistics building in the prosperous South-Western region of Germany alongside the strategic A5 Autobahn. Germany is one of SIRE’s key markets. We intend to invest more than EUR600 million into the German urban logistics market over the next three years, targeting urban logistic assets with income, vacancy or refurbishment potential as well as development opportunities, both on a forward funding and forward commitment basis.”