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Bahrain’s Investcorp has announced that it has acquired $640 million worth of US industrial real estate, increasing the size of its portfolio in the sector to $3.5 billion.
The acquisition encompasses 64 properties with a total area of 5.6 million sq.ft.
The company said its US real estate activity during the last year has amounted to $4 billion, $2.5 billion of acquisitions and $1.5 billion of dispositions.
The latest investments take the total number of USA industrial buildings owned by the company to 425.
Investcorp said the warehouses are 95 percent leased and located in Chicago, Dallas, New York, Atlanta, Houston, Philadelphia and St Louis.
“The properties have exposure to dense population centers with robust transportation infrastructure, proximity to interstate highways and large, diverse economies,” the company said.
Yusef Al Yusef, Managing Partner for Investcorp’s Private Wealth said: “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.”
(Writing by Imogen Lillywhite; editing by Seban Scaria)
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