By Sam Bridge
Investcorp completes its third UK Industrial and Logistics Programme followingacquisition of fulfilment centre in Leeds
Bahrain-based Investcorp has announced the completion of its third UK Industrial and Logistics Programme (UKIL III) following its acquisition of a £16 million ($20.6 million) fulfilment centre in Leeds.
Investcorp said that since June 2007 it has acquired industrial and logistics assets in the UK with a value of in excess of £200 million, and with a combined area of 2.8 million sq ft across 28 assets.
It added that in combination with four real estate investments in Germany, Investcorp has grown its total European real estate assets under management (AUM) to over €500 million ($556 million).
UKIL III comprises 1,000,000 sq ft of industrial and logistics assets across 10 single-let industrial properties. The assets, which are located in St Helens, Livingston, Glasgow, Manchester, Birmingham and Leeds, were purchased across six separate transactions for a combined value in excess of £80 million.
Neil Hasson, managing director - head of Investcorp European Real Estate, said: “We are very pleased to announce the close of our third UK Industrial and Logistics programme.
"Over the past two years, we have successfully executed Investcorp’s strategy to build a portfolio of well-located, income-generating industrial and logistics assets based throughout the UK. Demand for these types of assets is growing at a rapid rate and we continue to view this as a thriving market with immense growth potential.
"We are continuing to work through an attractive pipeline of new investment opportunities in the UK and continental Europe. The continued growth of our European real estate portfolio is key to achieving our mission to serve investors worldwide with a diversified portfolio of attractive alternative investments.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.