Arrow Capital Partners has acquired a portfolio of 10 warehouse assets in Denmark for €80 mln, marking its maiden Nordic acquisition for the (SIRE) Strategic Industrial Real Estate joint venture.
With a gross lettable area of 111,537 m2, the portfolio was acquired with 97% occupancy at a 6% yield from a private investor. The majority of assets are located in Denmark’s prime logistics markets of Copenhagen and the ‘Triangle Area’ covering Vejle, Kolding and Fredericia.
Rob Howe, head of European Real Estate at Arrow Capital Partners, said: 'This acquisition complements the growing SIRE portfolio, adding an important level of geographic diversity along with the ability for us to add significant value through the development process.
'For example, we are already in discussions with one tenant to increase the footprint of their building by around 40%. Over the next three years, we intend to invest around €400 million across the Nordic region, targeting standing assets and land suitable for logistics development.'
NCAP acted for Arrow and Colliers for the vendor.
