Europe and Asia Pacific-focused real estate investment firm Arrow Capital Partners has expanded its Strategic Industrial Real Estate (SIRE) business to Ireland, and appointed a country adviser.
The firm said it had capital to invest over €200 mln over the next 24 months in industrial and urban logistics property in Ireland, with a focus on single and multi-let industrial, distribution warehouses, last mile logistics, and vacant assets with strong lease-up potential plus land to facilitate a build-to-own strategy.
SIRE will invest in core, core-plus industrial and logistics assets yielding more than 5%, together with value-add opportunities predominantly in Dublin, Cork and Galway.
Arrow Capital Partners has appointed Cormac Dunne as country adviser for Ireland. He will be responsible for managing Arrow’s investment business in Ireland with a focus on building SIRE’s portfolio, working closely with Christian Bearman and Katherine Parker, partners in the European business.
Dunne is the founder of Dublin-based property and financial advisory firm Pembroke Property, and is the former head of real estate Ireland for Pepper Asset Servicing where he managed an €8 bn portfolio.
Parker, partner at Arrow, said: 'We are strong believers in the sector, have capital to deploy and a strong team to manage investments. Ireland will play a key part in the SIRE success story.'
Bearman added: 'As an investor and operator in real estate, we have flexibility around the type of acquisitions we can target. We have a longer-term investment horizon than most funds and a flexible approach to the way we consider our investments. We believe there are considerable opportunities for logistics investment in Ireland driven by the move towards e-commerce.'
Dunne said: 'Following the successful launch of SIRE Europe, in which we now have over €300 mln worth of assets in just over 12 months, we are excited to be launching the same strategy in Ireland.
'We will create value by acquiring and aggregating single assets ranging from €3 mln to €100 mln where supply/demand dynamics support above-average rental growth, and where targeted capex will enhance assets for new and existing tenants.'
