Arrow Capital Partners, the specialist investor, developer and manager, has acquired a 20,000 m2 warehouse in Breda, the Netherlands, for its SIRE (Strategic Industrial Real Estate) joint venture with Cerberus.
The asset was acquired from Wetering II, a company owned by Breevast, and comprises 20,586 m2 of industrial space on a plot of 33,090 m2.
The property benefits from 10 dock doors, 10 level doors and an eaves height of eight metres. It is fully occupied, with Vinted, an international e-commerce company, in place as the anchor tenant. Vinted is Europe’s largest online C2C marketplace for second-hand fashion, with over 100 million members across 22 countries in Europe and North America.
The asset is strategically positioned in close proximity to the A59 and A16 motorways, just 20 km from the Belgian border, and provides direct access to the strong urban centres of Breda, Rotterdam and Eindhoven. The ports of Rotterdam, Antwerp and Moerdijk are also within easy reach, allowing for the swift transport of international freight.
Arrow Capital Partners is aiming to significantly improve the sustainability credentials of the asset, with an ambitious investment programme planned to modernise the property and install sustainable heating systems, alongside improved roof insulation.
Martien van Deursen, head of Benelux at Arrow Capital Partners, said: 'This property marks our fifty-third acquisition for our SIRE joint venture in the Netherlands, providing us with an excellent addition to our portfolio in the logistics hotspot of North Brabant – a province which is extremely supply-constrained and currently operating a large-scale logistics development ban.
'This is a fantastic investment opportunity and we are looking forward to upgrading the space to a high-quality, flexible specification, capturing the income growth potential of the asset.'
Arrow Capital Partners was advised on this acquisition by Verona Real Estate and Dentons. The vendor was advised by De Mik Real Estate Partners.
