Investcorp, the global financial institution specializing in alternative investments, announced that it has acquired 89 industrial properties, with a total area of about 2.2 million square feet, in four major US markets, at a total price of $380 million, thus increasing the value of industrial properties owned by Investcorp. » in the United States to about $ 2.8 billion across 27 million square feet spread over more than 385 buildings.
With the recent acquisitions, the Investcorp portfolio has leased 95% of industrial warehouses to a diversified base that includes companies working in the fields of technology, industrial services, commercial and administrative services, maintenance and contracting services, and others. The properties that comprise the portfolio are mainly located in the most important markets. The largest industries in terms of size, including Los Angeles in California (2nd), Dallas in Texas (4th), Phoenix in Arizona (14th), Seattle, Washington (17th). These markets have experienced significant growth in recent years, as the rise of e-commerce and the need for more efficient supply chains has increased the demand for warehousing, distribution and fulfillment centers.
Kholoud Ibrahim, director of real estate investment at Investcorp, said: “Over the past years, we have continued to successfully implement Investcorp’s strategy to acquire assets with strong cash flows and additional potential for value improvement through active asset management. We are witnessing a strong demand for industrial and logistical properties due to Increased demand for e-commerce, and we are pleased to expand our manufacturing portfolio in the United States through these acquisitions.
Tariq Al Mahjoub, Head of UAE and Oman Markets at Investcorp for Private Wealth, said: “In the past few years, we have witnessed a systematic change in consumer shopping patterns, which has led to an increase in demand for industrial real estate assets to serve e-commerce, which is likely to exceed the current supply. We are pleased to expand our already large US manufacturing portfolio through these acquisitions in some of the largest and most powerful US manufacturing markets.
Since 1996, Investcorp has acquired 1,025 properties with a total value of more than $21 billion. According to Real Capital Analytics figures, Investcorp is the third largest non-domestic buyer of US real estate, and the fourth largest non-domestic seller over the course of 2019 and 2020.
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