NEW YORK, NY — Investcorp announced that its U.S.-based real estate team recently acquired its largest U.S. warehouse portfolio, totaling 4.5 million s/f and including 56 industrial properties across seven metropolitan markets, for a total purchase price of $300 million.
"We are proud to announce our largest US warehouse portfolio acquisition since the inception of the business, giving us the opportunity to expand our presence in this important and growing industrial/warehouse sector in the US," said Mohammed Alardhi, executive chairman of Investcorp. "This investment further reflects our commitment to growing Investcorp's footprint in the US, which is a key driver of the firm's overall growth strategy and an area in which we will look to continue expanding as opportunities arise."
This investment provides Investcorp with a 90% leased portfolio of class A and B warehouse, light manufacturing and flex buildings, across the e-commerce, manufacturing, design, wholesaling and food services industries. The portfolio was purchased as a single investment, with over 60% of the property located in "Tier One" industrial markets. The properties that comprise this portfolio include: