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Investcorp grows EUR 1 billion Europe portfolio with UK industrial acquisitions

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Investcorp has acquired ten UK-based industrial assets for a combined value of GBP 56.7 million as it looks to expand its Europe portfolio.

Bahraini alternative investment company Investcorp has completed the acquisition of ten UK-based industrial assets for a total of GBP 56.7 million (USD 76.29 million), according to a company announcement.

The industrial assets cover 660,000 square feet, and were acquired via four transactions. They comprise three multi-let and seven single-let industrial properties. These are located in Bedford, Warrington, Stone, Gateshead, Stockton-on-Tees, Christchurch, Aberdeen, Skelmersdale, Cumbernauld, and Cannock in the UK, the statement noted.

With the acquisitions the total number of transactions made in the UK industrial and logistics market by Investcorp now stands at 15. These transactions involve a total of 53 properties covering a combined area of 4.6 million square feet, and with a total deployed investment of GBP 315 million across the last four years.

“The UK industrial sector is set to become one of the strongest drivers of real estate, as Covid-19 has rapidly accelerated the shift to online retailing and the resulting demand for industrial space,” Khulood Ebrahim, Real Estate Product Specialist at Investcorp, said. “With a diverse and well-leased base of tenants, we believe that this portfolio will continue to have the potential to generate solid cash flows for our investors.”

INVESTCORP IS LOOKING TO EXPAND ITS EUROPE REAL ESTATE BUSINESS 

Just in June this year, Investcorp acquired an office property in Salford Quays,  Anchorage 1 & 2. The property covers a total area of 149,168 square feet, and comprises two multi-let Grade A office buildings.

Apart from the UK, Investcorp has also invested in Germany, The Netherlands, Italy and Belgium through its European real estate arm. Its European business was launched in 2017, and has since invested about EUR 1 billion across 80 properties in these locations.

The company also made its first European exit in October this year. It sold its long leasehold interest in a multi-let commercial campus located in Germany to real estate development and investment company Art-Invest Real Estate. The property, Bürocampus Wangen (the Campus) located in Stuttgart, was Investcorp’s first investment in Germany.

Other European acquisitions this year include two industrial assets in Scotland and the West Midlands for EUR 15.5 million, and Via Mecenate, 91 (an office property near Milan’s Linate airport) for EUR 70 million. The latter marked the first investment in Italy by Investcorp.

The company is also looking to further expand its business in continental Europe, specifically in the industrial and urban office asset classes, Neil Hasson, Managing Director of Investcorp European Real Estate, had previously said.

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