Arrow Capital Partners has announced the acquisition of two industrial sites in Monchengladbach in Germany.
Arrow has acquired the sites, on Dieselstrasse and on Daimlerstrasse in Monchengladbach, close to Dusseldorf, for its €3 bn Strategic Industrial Real Estate (SIRE) platform, 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 and form up to roughly 18,000 m2 with a striking total of 94 loading docks.
Financial details were not disclosed.
Danilo Hunker, head of Germany, at Arrow, 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 the platform is looking to invest more than €400 mln into the German urban logistics market over the next three years, including development by taking on building permitting risk, construction risk and leasing risk, he added.
Arrow was advised by Red Property Group.
