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Alternative investment firm Investcorp has invested $300 million to acquire three industrial real estate markets, further strengthening its US holdings, which stands at $5.3 billion.
The latest acquisitions add approximately 1.5 million square feet to its US industrial real estate portfolio, increasing its presence in industrial markets across the Southern and Western US, which spans roughly 42 million square feet and approximately 640 buildings.
The acquisitions include the Dallas & Atlanta infill portfolio, the West Coast infill portfolio across Denver, Las Vegas, San Diego and the San Francisco Bay Area and the Tampa industrial portfolio.
“We remain confident in the industrial asset class, which now represents nearly 60% of our real estate assets under management in the US,” Herb Myers, Co-Head of Real Estate North America at Investcorp said. “While the overall sector has shown signs of normalising from pandemic-era highs, a lot of this stabilisation is concentrated among newly built speculative properties. We continue to see strong performance and compelling investment opportunities for existing infill assets in high growth markets and believe the sector will continue to benefit from positive tailwinds and sustained demand over the long term.”
Founded in Bahrain, Investcorp’s investors include the Abu Dhabi investment and development company Mubadala, which acquired a 20% stake in the company in 2016.
(Writing by Bindu Rai, editing by Seban Scaria)
