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
To read the digital edition of the latest IPE Real Assets magazine click here.