Arrow Capital Partners has invested an undisclosed sum to buy an 18,971sqm last-mile logistics facility in Germany from Fuchs Immobilien.
Arrow Capital said the logistics facility in Chemnitz is the 19th property it has acquired in Germany for Strategic Industrial Real Estate (SIRE), the manager’s €3bn European industrial property investment fund.
Fuchs invested €2.5m in the redevelopment of the asset in Chemnitz which was a former Selgros wholesale store.
The latest deal follows Arrow Capital’s last month’s acquisition of the A4 portfolio of three fully-let light industrial assets.
Danilo Hunker, the head of Germany at Arrow Capital Partners, said: “These acquisitions have allowed us to consolidate our position in an area where there is growing demand for logistics space from some of the major national and international logistics and e-commerce businesses.
“In Germany and elsewhere across Europe, we’re increasingly looking to partner with developers such as Fuchs Immobilien as we expand our strategy to include investment in development land and properties with the potential to be repositioned into logistics assets that will feed the rapidly growing market.”
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