|21 November, 2019

Bahrain's Investcorp acquires two US portfolios for $800mln

The portfolio acquired is of 126 industrial properties totaling 10.2mln square feet

A front view of Investcorp headquarter. Image used for illustrative purpose.

A front view of Investcorp headquarter. Image used for illustrative purpose.

Bahrain-based alternative investment manager Investcorp’s US-based real estate team has acquired two industrial and logistics portfolios for $800 million.

The portfolio acquired consists of 126 industrial properties totaling 10.2 million square feet across five major metropolitan areas through two separate transactions.

The acquisition provides Investcorp with a 91.5 percent leased portfolio of Class A and B warehouse, distribution, and light manufacturing/research and development buildings across logistics, e-commerce, industrial chemicals, and food services industries, among others, Investcorp said in a statement.

The portfolio is comprised of properties located across the major industrial markets of Atlanta, Georgia; Chicago, Illinois; Dallas, Texas; Charlotte, North Carolina, and Memphis, Tennessee, the statement added.

Mohammed Alardhi, Executive Chairman of Investcorp, said: “With consumers and businesses increasingly demanding faster deliveries, industrial real estate assets close to major population centers will only become more important to efficient supply chains and enabling e-commerce.”

“We have been actively building our industrial and logistics portfolio to capitalize on the opportunities of this secular growth trend and these transactions represent a major next step in our efforts,” Alardhi added.

Investcorp, the fifth largest international buyer of US real estate according to Real Capital Analytics, currently owns approximately 240 industrial properties across the US totaling, more than 20 million square feet, including this latest acquisition.

(Reporting by Gerard Aoun; editing by Seban Scaria)

(gerard.aoun@refinitiv.com)

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