Arrow Capital Partners, the investor and operator of real estate in Europe and Asia-Pacific, has invested in a major warehouse in Madrid for its €3 bn Strategic Industrial Real Estate (SIRE) platform backed by Cerberus.
Last year, Arrow acquired 80% of a 68,800 m2 warehouse located in Daganzo de Arriba, a logistics ring around Madrid. It has now purchased the 20% balance. It is fully occupied, and 70% is leased to an international food and beverage company.
Arrow now has 14 logistics assets under management in Spain, all fully let, of over 260,000 m2 distributed geographically between Madrid (where 35% of the portfolio is located), Cataluña, Zaragoza, Valencia and Malaga. In addition, Arrow has several additional investments already under exclusivity or consideration.
Malgorzata de la Torre, Arrow’s head of acquisitions in Spain, said: 'This is an outstanding, well-located asset, and we are delighted to consolidate our ownership of it further, so strengthening our position in the logistics market in Spain where we have grown rapidly to create a large portfolio.
'We are accelerating our deployment of capital in Spain and in Europe as a whole, with a pipeline of opportunities in place. In Spain alone, we are targeting further investments of over €400 mln over the next few years, including in assets with development, income, vacancy or refurbishment potential.'
