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Bahrain-based Investcorp has acquired two industrial portfolios in Minneapolis and Baltimore for a gross transaction value of over $335 million.
The portfolios comprise a total of 27 properties and 2.7 million square feet, the Middle East’s largest alternative investment firm said,
Yusef al Yusef, Global Head of Distribution at Investcorp, said: “With e-commerce showing no sign of slowing and a lack of new supply for infill and urban products, we continue to believe in the long-term viability of the asset class.”
Investcorp, which manages $55 billion in assets, is among the top five largest cross-border buyers of US real estate over the past five years, according to Real Capital Analytics. The firm’s US real estate strategy invests primarily in the industrial and residential asset classes, with 98% of its portfolio consisting of these property types.
(Writing by Brinda Darasha; editing by Daniel Luiz)
