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Tue 14 Jul 2020 10:28 AM

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Bahrain's Investcorp sells $200m of US industrial real estate

Investcorp ranked as the second largest international buyer and fourth largest international seller of US real estate last year

Bahrain's Investcorp sells $200m of US industrial real estate

The Boston-based properties included a warehouse, distribution and flex real estate portfolio totaling 1.1 million square feet.


Bahrain-based Investcorp has sold $200 million worth of industrial real estate products in the American cities of Boston and Chicago, the company has announced.

Investcorp acquired the properties – totalling 1.8 million square feet – in 2017, and increased overall occupancy to 98 percent at the time of exit.

“This sale represents another example of our leading real estate team identifying attractive assets that are supported by long-term and resilient trends, such as the ongoing growth of e-commerce,” said Timoty Matter, global head of distribution at Investcorp.

“We are pleased with the result of this exit and our team’s ability to generate strong returns amidst a challenging environment,” he added.

The Boston-based properties included a warehouse, distribution and flex real estate portfolio totaling 1.1 million square feet.

The three individual cold storage Chicago properties near the city’s downtown comprised approximately 700,000 square feet, primarily used for storage and distribution of frozen food products.

“Industrial, warehouse and logistics real estate assets are essential for driving e-commerce and supporting supply chains, which is why we increased our focus on this area several years ago,” said Babak Sultani, managing director and real estate product specialist.

“We remain focused on continuing to identify resilient investment opportunities that are supported by long-term trends such as e-commerce-driven industrial real estate,” he added.

For the twelve months ending December 31, 2019, Investcorp ranked as the second largest international buyer and fourth largest international seller of US real estate, according to Real Capital Analytics. Investcorp currently owns approximately 230 industrial properties across the US totaling approximately 19 million square feet.

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