Arrow Capital Partners has purchased a 88,000 sq ft logistics asset in Dublin from Slate Office REIT for €7.5m for its €3bn Strategic Industrial Real Estate (SIRE) joint venture with Cerberus.
The asset comprises two interconnecting units of 41,348 sq ft and 46,621 sq ft at Airways Industrial Estate, which are let on a long-term lease to MM Fiber Packaging Ireland.
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.
“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 acquisition by CBRE. Slate Office REIT was advised by TWM.
