Early in 2019, Arrow Capital Partners launched the Strategic Industrial Real Estate (SIRE) joint venture to purchase core-plus logistics assets with long-term leases.
Arrow‘s latest acquisitions in Spain include warehouses in Vilamalla (Girona), Tortosa (Tarragona) and Fuente de Piedra, in Málaga. These three properties are rented to GM Food which controls franchises such as Suma or Gourmet and was formerly known as Miquel Alimentacio Grup.
In Spain, Arrow Capital Partners has been appointed by Cerberus Capital Management to help manage a €750M Spanish light industrial and logistics portfolio. The portfolio is managed by Arrow Capital’s Spanish team which is led by Howard Barnes, formerly head of development at Talus Real Estate. The portfolio in Spain includes over 1,000 light industrial and logistics assets totaling around five million square meters.
SIRE aims to invest in assets yielding more than 5% as well as vacant assets with strong lease-up potential. The joint venture is led by Katherine Parker, partner at Arrow Capital Partners, and, in addition to Spain, will target properties in Germany, Benelux, UK and Italy as well as the Nordics, France and Central Europe.
Martyn McCarthy, managing partner of Arrow Capital Partners, said SIRE aims to create value by acquiring and aggregating single assets ranging from €5m to €100m and portfolios between €10m to €500m, that have “strong income reversion in markets where the supply/demand dynamics support above-average rental growth, and where targeted capex will enhance the assets attraction to tenants and improve occupancy”.