Bahrain-based Investcorp’s latest acquisition of several industrial properties across the US grows the asset manager’s real estate holdings in the States to USD 3.5bn.
Driven by the demand for industrial space fuelled by e-commerce, the company acquired 64 industrial properties valued at USD 640m across seven major US markets, including Chicago, Dallas, New York, Atlanta, Houston, Philadelphia, and St Louis.
Investcorp has since 1996 acquired over 1,100 properties for a total value of approximately USD 23bn. In 2021, the Investcorp US team participated in nearly USD 4bn deals, acquiring over 200 properties.
According to Yusef Al Yusef, managing partner for Investcorp’s Private Wealth: “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.”
“Our investment strategy has long approached the US industrial market with optimism, due to increased demand brought about by the rise of e-commerce and evolving supply-chain challenges,” added Khulood Ebrahim, Real Estate product specialist at Investcorp. “We believe that our latest acquisitions, which unlock access to highly coveted industrial markets across the country, should be well-equipped to deliver attractive potential returns for our investors.”
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