Arrow Capital Partners has announced a major warehouse acquisition in Madrid, Spain for its €3bn Strategic Industrial Real Estate (SIRE) platform which is backed by Cerberus.
The warehouse of 22,700 sqm is located in the municipality of Velilla de San Antonio only 22km from the city centre of Madrid on the A3 axis. Its proximity to the capital city and high quality in an area of limited supply makes it a strategic addition to the existing portfolio.
Arrow now has 13 logistics assets under management in Spain, all fully let, with more than 240,000sqm of GLA distributed geographically between Madrid, Cataluña, Zaragoza, Valencia and Malaga. In addition, there are a number of additional investments already under exclusivity or consideration.
Małgorzata de la Torre, Arrow’s Head of Acquisitions in Spain, said: “Arrow started investing in Spain in 2019 and has grown rapidly to create the existing portfolio of 13 assets. This continues our investment in light industrial and logistics assets which are benefiting from scarcity of supply and growing demand.
“We are accelerating our deployment of capital in Spain and in Europe as a whole, with a pipeline of opportunities in place. We are targeting further investments of over €400m in Spain alone over the course of next few years, including in assets with development, income, vacancy or refurbishment potential.”