Arrow Capital Partners has acquired an 18,971 m2 last mile logistics facility in Chemnitz, Germany, from Fuchs Immobilien (Fuchs Immobilien) for an undisclosed amount.
This is the 19th property that Arrow has acquired in Germany for its €3 bn Strategic Industrial Real Estate (SIRE) joint venture and follows the recent acquisition of the A4 portfolio.
Commenting on the acquisition, Danilo Hunker, head of Germany at Arrow Capital Partners, said: ‘These acquisitions have allowed us to consolidate our position in an area where there is growing demand for logistics space from some of the major national and international logistics and e-commerce businesses.’
Prior to the sale of the Chemnitz asset, Fuchs Immobilien had invested €2.5 mln in the redevelopment of the former Selgros wholesale store, having identified its potential as a modern logistics facility. The property is now leased to a German logistics company.
‘In Germany and elsewhere across Europe, we’re increasingly looking to partner with developers such as Fuchs Immobilien as we expand our strategy to include investment in development land and properties with the potential to be repositioned into logistics assets that will feed the rapidly growing market,’ added Hunker.
Arrow was advised by Motherland Group.
