European asset manager Arrow Global has extended its real estate offering in the UK and Ireland with the acquisition of smaller rival Eagle Street Partners.

Arrow Global, which specialises in credit and real estate, said it has bought the real estate asset manager and developer to help support Arrow Global’s European real estate strategy.

Founded in 2020, Eagle Street has invested in UK and Irish real estate on behalf of investors across the residential and office sectors. The manager’s current portfolio has a total gross development value of €1.1bn.

Arrow Global, founded in 2005, has invested over €8bn over the last 17 years across a range of investment opportunities, predominantly real estate asset-backed, and manages €80bn in third-party assets under management.

The acquisition of Eagle Street adds to Arrow Global’s existing pan-European real estate offering, which includes Maslow Capital in the UK, Norfin in Portugal, Vesting Finance in the Netherlands, and both Sansedoni and Europa Investimenti in Italy.

Marc Fuhrmann, principal, real estate at Arrow Global, said: “We are confident that deepening our strategic relationship with the Eagle Street will provide Arrow with incremental proprietary deal flow and strong local execution capabilities in the UK and Ireland. Eagle Street is a highly respected real estate investor and asset manager, and we look forward to collaborating on future real estate opportunities.

“We expect Eagle Street to continue to identify attractive investment opportunities driven by the current dislocation in property markets and the systemic undersupply of housing stock, energy transition, and the increasing role of private capital in real estate development.”

Shane Scully, co-founder and CEO of Eagle Street, said: “Since founding Eagle Street, we have focused on commercial property, residential, hospitality and life sciences which can be acquired or created to deliver attractive returns.

“In Arrow Global, we have found a partnership that will accelerate our strategy allowing us to acquire, develop, refurbish, and manage attractive real estate assets across our target markets.”

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