Cerberus Capital Management has joined forces with Arrow Capital Partners to manage a €750m (£643m) portfolio of light industrial and logistics assets in Spain.
The portfolio includes more than 1,000 light industrial and logistics assets totalling approximately 50m sq ft.
The portfolio will be managed by Arrow Capital Partners’ Spanish team, established in early 2018 and based in Madrid. Led by Howard Barnes, formerly head of development at Talus Real Estate, the Spanish team includes Gonzalo Garcia-Prieto, formerly director of Heritage at Dospuntos (Varde); Cristina Dotor, formerly asset manager at iKasa; and Luis Pino and Eneko Bengoa, formerly asset managers at Savills.
Robert Falls, managing director at Cerberus European Servicing, said: “We’ve developed a great relationship with Arrow Capital Partners over the years through various European mandates and we look forward to leveraging their expertise and capabilities in the Spanish market.”
Howard Barnes, head of Spain at Arrow Capital Partners, added: “As the Spanish economy continues to recover from the financial crisis, we are seeing some excellent entry opportunities, particularly for us as we are looking to acquire light industrial and logistics assets of over €200m in the next year or so.”