Arrow Capital Partners has added another Spanish logistics asset to its European industrial real estate platform.
The investors said it has acquired the warehouse in Madrid for its €3bn Strategic Industrial Real Estate (SIRE) platform backed by Cerberus Capital Management.
Last year, Arrow acquired 80% of a 68,800sqm warehouse located in Daganzo de Arriba, a logistics ring around Madrid. It has now purchased the remaining 20% of the fully-leased warehouse, the company said.
Arrow said it now has 14 logistics assets under management in Spain, all fully-let, adding that it is also in talks to acquire additional assets.
Małgorzata de la Torre, the head of acquisitions in Spain at Arrow Capital Partners, said: “This is an outstanding, well-located asset, and we are delighted to consolidate our ownership of it further, so strengthening our position in the logistics market in Spain where we have grown rapidly to create a large portfolio.
“We are accelerating our deployment of capital in Spain and in Europe as a whole, with a pipeline of opportunities in place.”
In Spain alone, the company is targeting further investments of over €400m over the next few years, including in assets with development, income, vacancy or refurbishment potential, De la Torre said
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