Arrow Capital Partners, the specialist investor, developer and manager of real estate in Europe and Asia-Pacific, has acquired a 100,000 sqm brownfield site to speculatively develop two logistics warehouses for its €3bn Strategic Industrial Real Estate Joint Venture (SIRE) with Cerberus.
Located in Alcala de Henares in the strategically important Corredor de Henares in the northeast of Madrid, the completed warehouses will provide occupiers with a total gross lettable area of 51,500 sqm within 25 minutes of Madrid’s city centre. Each warehouse will be divisible into smaller units with a total GLA of 25,750 sqm that includes 12m ceiling heights. Given its excellent visibility and road access, the site will have two independent entrances. Each building will have 36 loading docks, as well as 35m yard depths. The facilities will be constructed to achieve a BREEAM ‘excellent’ rating.
Commenting on the development, Malgorzata de la Torre, Head of Acquisitions in Spain at Arrow Capital Partners, said: «We are thrilled to announce this new development. Its excellent location, visibility and proximity to Madrid as well as the main highway further consolidate our position in Madrid’s logistics market. Our decision to develop on a speculative basis is underpinned by the strong and persistent demand for high quality logistics space from local, regional and national occupiers».
«We remain interested in additional select development sites, with or without zoning, which are suitable for logistics development».
Arrow Capital Partners and Cerberus were advised by Garrigues, PwC and Arcadis, while Dokei has been appointed as project manager. A specialist investor, developer and manager of real estate, Arrow Capital Partners targets equity and debt opportunities, specialising in cross-border transactions where it can use its platform and balance sheet to invest with US and Asia-Pacific investors into Europe, as well as European and US investors into the Asia-Pacific region.
Source: Arrow Capital Partners