5 December 2019 – Strategic Industrial Real Estate (Sire), a joint venture managed by Arrow Capital Partners, has acquired a portfolio of logistics assets in Zaragoza. The deal, in conjunction with Cerberus, includes 38,536 square meters of gross leasable area worth 20 million euros. Savills Aguirre Newman and Latham & Watkins advised on the acquisition.
Sire has €2 billion to invest in European logistics and industrial assets.
Original Story: Eje Prime
Adaptation/Translation: Richard D. K. Turner
20 July 2019 – Richard D. K. Turner
Cerberus and Arrow Capital Partners have teamed up to create a new joint venture named SIRE (Strategic Industrial Real Estate). The two firms aim to control a €2-billion portfolio of logistics assets, targeting long-term investments in both the industrial market and urban logistics properties.
SIRE will primarily invest in high-quality, low-risk assets (core plus), looking for returns exceeding 5%, as it bets on continued growth in the e-commerce market. The new firm will invest in Spain, Germany, United Kingdom, Italy and the Benelux countries. SIRE intends to invest in individual properties worth between 5 and 100 million euros and portfolios valued between 10 and 500 million euros.
Original Story: El Confidencial – Ruth Ugalde