Bahrain: Investcorp, a leading global alternative investment firm, today announced that it has acquired 64 industrial properties totaling approximately 5.6 million square feet across seven major US markets for an all-in value of US $640 million. The properties grow Investcorp’s US industrial real estate holdings to approximately US $3.5 billion across approximately 32 million square feet comprised of more than 425 buildings.
The latest acquisitions provide Investcorp with Class B+/B industrial warehouses that are 95% leased. The properties are primarily located in the top major industrial markets by size including Chicago, Illinois (ranked 1st), Dallas, Texas (ranked 2nd), the New York metro (ranked 4th), Atlanta, Georgia (ranked 5th), Houston, Texas (ranked 6th), Philadelphia, Pennsylvania (ranked 9th) and St. Louis, Missouri (ranked 20th). * The properties have exposure to dense population centers with robust transportation infrastructure, proximity to interstate highways and large, diverse economies.
Yusef Al Yusef, Managing Partner for Investcorp’s Private Wealth commented: “We are pleased to have made another acquisition in the industrial and logistics sector as this sector continues to benefit from strong tailwinds, mainly driven by an increase in e-commerce, that were heightened by the pandemic. We believe that through such acquisitions, we will further strengthen our position as a leading global, alternative investment firm.”
“Our investment strategy has long approached the US industrial market with optimism, due to increased demand brought about by the rise of e-commerce and evolving supply-chain challenges,” said Khulood Ebrahim, Real Estate Product Specialist at Investcorp. “We believe that our latest acquisitions, which unlock access to highly coveted industrial markets across the country, should be well-equipped to deliver attractive potential returns for our investors.”
Since 1996, Investcorp has acquired over 1,100 properties for a total value of approximately $23 billion. According to Real Capital Analytics, Investcorp is among the top-10 largest cross-border buyers and sellers of US real estate over the past three full years of 2019, 2020 and 2021.
*Source: CBRE Econometric Advisors as of Q3 2021
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