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Thu 21 Nov 2019 02:16 PM

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Bahrain's Investcorp inks $800m deals for US industrial properties

Investcorp currently owns about 240 industrial properties across the US totaling more than 20 million square feet

Bahrain's Investcorp inks $800m deals for US industrial properties

In the 12 months ending June 30, Investcorp has ranked as the fifth largest international buyer of US real estate, according to Real Capital Analytics.

Bahrain-based Investcorp on Thursday announced that its US-based real estate team has acquired a portfolio of 126 industrial properties totaling 10.2 million square feet across five major metropolitan areas.

The two separate transactions has a total capitalisation of about $800 million, the company said in a statement.

Mohammed Alardhi, executive chairman of Investcorp, said: “Our real estate business and the US market have been and will continue to be key drivers of our growth strategy. We are excited to build upon our position as one of the largest international buyers of US real estate through this transaction, which represents the biggest real estate portfolio acquisition in our history.

"This milestone demonstrates our confidence in the US market, our team’s prowess in identifying attractive investment opportunities with strong underlying fundamentals, and our ability to deploy greater capital behind our convictions.”

He added: “We have been actively building our industrial and logistics portfolio to capitalise on the opportunities of this secular growth trend and these transactions represent a major next step in our efforts.”

The acquisition provides Investcorp with a 91.5 percent leased portfolio of class A and B warehouse, distribution, and light manufacturing/research and development buildings across logistics, e-commerce, industrial chemicals, and food services industries.

The portfolio includes properties located across the major industrial markets of Atlanta, Chicago, Dallas, Charlotte, and Memphis.

In the 12 months ending June 30, Investcorp has ranked as the fifth largest international buyer of US real estate, according to Real Capital Analytics.

Investcorp currently owns about 240 industrial properties across the US totaling more than 20 million square feet.

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