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Bahrain – Investcorp, a leading global provider and manager of alternative investment products, is pleased to announce it has completed the acquisition of Airport Centre, a multi-let office and light industrial property located in Hamburg, for approximately €85m. The acquisition is Investcorp’s fourth real estate investment in Germany in the last 12 months and brings Investcorp’s total European real estate assets under management (AUM) to over €500 million.
Airport Centre is located a short distance away from Hamburg airport on the Fuhlsbüttel Nord U-Bahn station. The property has 35,000 sq. m. of lettable space, of which 75% is office space and 25% light industrial. It currently houses thirty-two tenants across a diverse set of sectors and has demonstrated a strong occupational history since construction.
The purchase of Airport Centre closely follows the acquisitions of office buildings located in Stuttgart, Eschborn and Niederrad, bringing Investcorp’s total AUM in Germany to approximately €325 million. This, combined with the acquisition of 27 logistic and light industrial assets in the U.K. over the past two years, brings Investcorp’s total AUM in Europe to over €500 million.
Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp, said: “This acquisition reflects our ability to identify great opportunities across the European real estate market. Moreover, we see the continued growth of our European real estate portfolio as key to realizing our strategy and mission to provide global investors with a vigorous and diversified portfolio of lucrative alternative investments.”
Commenting on the acquisition, Babak Sultani, Managing Director, Real Estate Product Specialist at Investcorp, said: “We are pleased with our purchase of Airport Centre in Hamburg as it represents an important milestone that reflects our strategic vision to expand our footprint in Europe through investments in high quality assets underpinned by strong market fundamentals, such as the office market in Germany.
“In Europe, we will continue our focus on sourcing income generating multi-let assets, primarily in the U.K., Germany, France, Denmark and the Benelux market, with a preference for office and industrial assets.”
Montano Asset Management acted as a minority joint venture partner for the acquisition of Airport Centre and will serve as its asset manager.
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About Investcorp
Investcorp is a leading global manager of alternative investments. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. The Firm continues to focus on generating value through a disciplined investment approach in four lines of business: private equity, real estate, absolute return investments and credit management.
As at December 31, 2018, the Investcorp Group had US$ 22.5 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.
Since its inception in 1982, Investcorp has made over 185 Private Equity deals in the U.S., Europe, the Middle East and North Africa region and Asia, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 600 commercial and residential real estate investments in the US and Europe, for in excess of US $59 billion in transaction value.
Investcorp employs approximately 400 people across its offices in Bahrain, New York, London, Abu Dhabi, Riyadh, Doha, Mumbai and Singapore. For further information, including our most recent periodic financial statements, which details our assets under management, please visit:
www.investcorp.com
www.twitter.com/Investcorp@investcorp
www.linkedin.com/company/Investcorp
Media Contacts:
Investcorp
Firas El Amine
+973 3998 7838
felamine@investcorp.com
Brunswick Group
Celine Aswad
+971 4 446 6270
Investcorp@brunswickgroup.com
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