Bahrain-based Investcorp has announced that it has completed the sale of 10 UK industrial and logistics assets to three different purchasers for a combined total of £108.4 million ($145 million).
The first sale to Kennedy Wilson comprised a portfolio of eight mid box industrial and logistics warehouses located in the established distribution markets of Doncaster, Leeds, Bilston, Glasgow and Motherwell, totalling 588,997 sq ft.
The second sale to Realty Income comprised a modern detached industrial unit located in Hull, totalling 270,388 sq ft while the third sale to Investra Capital comprised a collection of manufacturing and distribution units located in Tamworth, totalling 201,309 sq ft.
Investcorp said it acquired all 10 assets during the second half of 2017 for a combined price of about £69 million.
Since launching its European real estate business in 2017, Investcorp has invested approximately €1 billion into 80 properties across the UK, Germany, The Netherlands, Italy and Belgium.
Khulood Ebrahim, real estate product specialist at Investcorp, said: “We are pleased to have successfully exited these assets in the UK. The industrial and logistics real estate assets are essential for driving e-commerce and supporting supply chains, and we remain focused on investing in these sectors.
“We will continue to leverage our deep market expertise and history of successfully investing in real estate to identify attractive opportunities that align with our criteria and have the potential to create value for our clients.”
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