Arrow Capital Partners has bought an industrial site in Riegel in Germany on behalf of its €3bn Strategic Industrial Real Estate (SIRE) platform.

The 21,320sqm site, acquired from a private investor for an undisclosed amount, includes a 9,200sqm logistics building currently largely let out, the manager said.

Danilo Hunker, the head of Germany, at Arrow Capital Partners, said: “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.”

Hunker said the company intends to invest more than €600m into the German urban logistics market over the next 3 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.

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