Arrow Capital Partners, the investor and operator of real estate in Europe and Asia-Pacific, has acquired an urban, single-let warehouse in Etten-Leur in the Netherlands.
The asset is located 50 km south-west of Rotterdam and 50 km from Antwerp and was purchased for Arrow's €3 bn Strategic Industrial Real Estate (SIRE) platform, backed by Cerberus.
Financial details were not disclosed.
The asset concerns a sale-and-leaseback and is located on the Vosdonk business park and benefits from good access to the N640, connecting Tilburg to Roosendaal via the A58 Motorway. Built in 1988 and extended in 1991, it provides a lettable area of over 11,800 m2.
Martien van Deursen, head of Benelux at Arrow, said: 'This latest investment brings the number of SIRE assets in the Netherlands to 46 and continues our investment in light industrial and logistics assets which are benefiting from scarcity of supply and growing demand.
'We are accelerating our deployment of capital in the Benelux as a whole, with a pipeline of opportunities in place. In the Netherlands alone, our portfolio and pipeline now comprise more than €300 mln in assets and, over the next three years, we intend to invest a further €300 mln in the Benelux region, including in assets with income, vacancy or refurbishment potential.'