Arrow Capital Partners acquires assets in Dublin and Longford

Investor planning to spend over €200m in Irish industrial and logistics market by 2022

Australian-headquartered real estate investor, Arrow Capital Partners, has stepped up its plans to invest in Ireland's industrial and logistics market with the acquisition of four properties in Dublin and Longford.

While the company declined to comment on the individual prices paid, the purchases form part of Arrow’s wider plan to invest over €200 million here on warehouses in ‘last-mile’ and other strategic locations by the middle of next year. The money comes from Arrow’s $3 billion (€ 2.7 billion) strategic industrial real estate (SIRE) investment platform, which invests in strategic industrial and logistics assets across Europe.

Arrow’s first Irish purchases comprise of three assets in Dublin and one in Longford, all of which it secured in separate transactions from different vendors. The properties acquired are:

The VWR Building, Northwest Industrial Estate, Dublin, a 7,025sq m unit leased to pharmaceutical company, VWR International; Unit 260 Holly Road, Western Industrial Estate, Dublin, a 6,396sq m unit which is fully let; 9a/9b Parkwest Industrial Park, Dublin, a detached 3,143sq m unit on the Park West industrial estate, which is leased to Gardiner Group; and the Masterlink Building, Co Longford, a purpose-built 14,426sq m unit which is let to nationwide logistics operator Masterlink Distribution.


Urban logistics sector

Commenting on the deals, Arrow’s head of real estate Europe, Robert Howe, said: “The acquisitions of these strategically-located assets reflect SIRE’s underlying conviction in the urban logistics sector, which is benefiting from strong demand from the rapid growth of e-commerce.

“We are accelerating our deployment of capital in Ireland and, with a number of additional acquisitions already in exclusivity, expect to make further announcements shortly as we continue to expand the SIRE portfolio.”

Cormac Dunne, head of Ireland at Arrow, added: “We are very pleased with our initial acquisitions and are actively seeking new single asset or portfolio opportunities in Ireland, ranging from €3 million to € 100 million. We can acquire tenanted buildings with a 5 per cent-plus yield profile, vacant assets with strong lease-up potential, joint ventures or fund local developers, to facilitate our build -to-own strategy.”

Arrow was advised on the VWR and Holly Road transactions by MCD Property and Lisney respectively.

Ronald Quinlan

Ronald Quinlan

Ronald Quinlan is Acting Property Editor of The Irish Times