Gramercy Property Europe, the real estate investment fund focused on pan-European sale-leaseback and single-tenant transactions, announces it has acquired the Arrow property, an 30,695.9m² institutional quality logistics warehouse in Worksop, UK, for an all-in cost of approximately €21.3m (£18.3m). Gramercy Property was advised by Gramercy Europe Limited, a specialist real estate investment fund manager.
This is the Gramercy Property Europe’s 18th transaction within the past 15 months, with €700m invested across 35 high-quality net-lease assets. The transaction matches the Gramercy Property Europe’s stated strategy of owning single-tenant let properties that generate stable, long-term income for its investors.
The Arrow property is fully let to Siro (UK) Limited, with a guarantee from the international food manufacturing group Grupo Siro Corportivo, on an entirely triple net lease until 2035.
Colliers International advised Gramercy Property on the purchase.
Michael Heal, Managing Director of Gramercy Europe Limited, commented: “The Arrow property is a strong addition to Gramercy Property Europe and demonstrates our ability to source UK transactions on attractive terms. While we will remain highly selective on UK transactions, the UK is still the largest and most liquid property market in Europe.”
