Arrow Capital Partners has acquired two industrial sites in Monchengladbach in Germany on behalf of its European industrial and urban logistics real estate platform.

The manager has paid an undisclosed amount to buy the sites, on Dieselstrasse and on Daimlerstrasse for its €3bn Strategic Industrial Real Estate (SIRE) platform.

Arrow Capital said the assets were acquired from a private investor.

The sites have seven industrial units and include space for car parking and offices. They are currently let out to two logistics companies.

Danilo Hunker, head of Germany, at Arrow Capital Partners, said: “These latest acquisitions strengthen SIRE’s position in German industrial and logistics assets.

“Dusseldorf is an established logistics hub, and we look forward to announcing similar investments shortly. Germany is a key market for SIRE, and we are looking to invest more than €400m into the German urban logistics market over the next three years, including development by taking on building permitting risk, construction risk and leasing risk.”

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