Arrow Capital Partners has launched its €2.7bn ($3bn) SIRE investment business in Ireland and has the capital to invest over €200m over the next 24 months in an industrial and urban logistics property in Ireland. SIRE will invest in core, core plus industrial and logistics assets yielding more than 5% together with value-add opportunities predominately in Dublin, Cork and Galway. Exposure is being sought to single and multi-let industrial, distribution warehouses, ‘last touch’ logistics, and vacant assets with strong lease-up potential as well as land to facilitate a build to own strategy.
The team at Arrow has been one of the largest owners of strategic industrial and urban logistics assets in Europe over the last 15 years, notably in Holland, Germany, UK, Italy, Spain and Poland. Arrow Capital Partners has appointed Cormac Dunne as Country Adviser, Ireland. He will be responsible for managing Arrow’s investment business in Ireland with a focus on building SIRE’s portfolio, working closely with Christian Bearman and Katherine Parker, Partners in the European business.
Katherine Parker, Partner at Arrow, said: “We are strong believers in the sector, have the capital to deploy and a strong team to manage investments. Ireland will play a key part in the SIRE success story.”
Christian Bearman, Partner of Arrow, said: “As an investor and operator in real estate, we have flexibility around the type of acquisitions we can target. We have a longer-term investment horizon than most funds and a flexible approach to the way we consider our investments. We believe there are considerable opportunities for logistics investment in Ireland driven by the move towards e-commerce.”
Cormac Dunne, Arrow’s Country Adviser, Ireland, said: “Following the successful launch of SIRE Europe, in which we now have over €300m worth of assets in just over 12 months, we are excited to be launching the same strategy in Ireland. We will create value by acquiring and aggregating single assets ranging from €3m to €100m where supply/demand dynamics support above-average rental growth, and where targeted capex will enhance assets for new and existing tenants.”