Arrow Capital Partners, a specialist investor, developer and manager of real estate in Europe and the Asia-Pacific region, has acquired an 88,000sq ft logistics asset at Dublin’s Airways Industrial Estate for €7.5 million. The acquisition from Slate Office Reit was made for Arrow’s €3 billion SIRE (Strategic Industrial Real Estate) joint venture with Cerberus.
The asset comprises two interconnecting units of 41,348sq ft and 46,621sq ft, respectively. Both units are let on a long-term lease to MM Fiber Packaging Ireland Limited, a multinational manufacturer of packaging supplies.
The units are well positioned within Airways Industrial Estate, an established last-mile logistics location in Dublin 9, with nearby occupiers including Amazon, DPD, Vodafone and Verizon. Airways Industrial Estate is within a 10-minute drive of Dublin Airport, the Port Tunnel, and the M1 and the M50 motorways.
Commenting on the deal, Rob Howe, head of European real estate at Arrow Capital Partners, said: “This acquisition reflects our ambitious investment strategy across Europe, as we continue to expand our portfolio with well-located, flexible urban logistics assets and development opportunities.
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“The logistics market in Dublin is underpinned by sustained high demand for space with limited supply of existing and new-build stock, resulting in the steady growth of rents and making Dublin an opportune area to invest in.”
“We are seeking additional investment and development opportunities in Ireland to add to our existing portfolio.”
Arrow Capital Partners was advised on the transaction by CBRE while Slate Office Reit was represented by TWM.
Arrow Capital Partners, a specialist investor, developer and manager of real estate, targets equity and debt opportunities, specialising in cross-border transactions where it can use its platform and balance sheet to invest with US and Asia-Pacific investors into Europe, as well as European and US investors into the Asia-Pacific region. Arrow has a team of 60 employees globally, in 12 countries.
