Arrow Capital Partners, which owns and operates real estate in Europe and Asia-Pacific, said it has agreed to fund a major new logistics site in Osterweddingen near Magdeburg in Germany, as part of its strategy to increase its investment into urban logistics development.
The development is 70% complete and is due to be delivered in H2 2021.
Arrow is financing the development from its €3 bn Strategic Industrial Real Estate (SIRE) platform. It will provide a 51,000 m2 site including a logistics building of 23,000 m2 split into four possible separate units.
The developer is eab invest, a local developer from the region.
Danilo Hunker, head of Germany at Arrow, said: 'This funding strengthens SIRE’s position in the German industrial and logistics sector. It is a major investment in a strategic location in the centre of Germany.
'We intend to invest more than €600 mln into the German urban logistics market over the next three years, targeting urban logistics assets with income, vacancy or refurbishment potential as well as more development opportunities like Osterweddingen, both on a forward funding and forward commitment basis.'
Arrow was advised by Aengelvelt.
