Saturday, May 28, 2022

Arrow Capital Partners plans to invest over £180 million on Irish industrial property

Irish industrial property

The Sydney-based real-estate investment firm plans investment in warehouse and other logistics property assets across Ireland

Arrow Capital Partners, a Sydney-headquartered international real-estate investment firm, has said it plans to invest over £180 million on warehouses and other logistics property assets in Ireland over the next two years.

The company said in a statement that it has hired Cormac Dunne, a former senior executive with loan management company Pepper Asset Servicing in Ireland, as its country adviser on deals in Ireland.

The money being targeted at Ireland comes from Arrow’s £2.41 billion so-called strategic industrial real estate investment business. It will be targeting industrial and logistics assets with a rental yield more than 5 per cent together with assets with development opportunities, mainly in Dublin, Cork and Galway.

As an investor and operator in real estate, we have flexibility around the type of acquisitions we can target, said Christian Bearman, a partner of Arrow, which manages property assets across Europe and Asia-Pacific.

“We have a longer-term investment horizon than most funds and a flexible approach to the way we consider our investments. We believe there are considerable opportunities for logistics investment in Ireland driven by the move towards e-commerce.”

Property used for storage and distribution of goods has been the “sector du jour” during the Covid-19 crisis in Ireland, as ecommerce burgeoned on the back of movement restrictions, consultancy firm BNP Paribas Real Estate (BNPPRE) said this week, even as it noted that overall Irish commercial property transactions have slumped in recent months.

“We believe that, in the medium to long term, changes in consumer behaviour could now normalise more toward online shopping here, said BNPPRE Ireland’s managing director and head of capital markets, Kenneth Rouse.

The team at Arrow has been active in the market for strategic industrial and urban logistics assets in Europe over the last 15 years, notably in Holland, Germany, UK, Italy, Spain and Poland, the firm said.


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