Investcorp acquires $300m US warehouse portfolio

Investcorp has closed on the acquisition of its largest US warehouse portfolio in a deal valued at approximately $300m. The purchase totals approximately 4.5 million sq ft and includes 56 industrial properties across seven metropolitan markets. This investment provides the buyer with a 90-percent leased portfolio of class A and B warehouse, light manufacturing and flex buildings, across the e-commerce, manufacturing, design, wholesaling and food services industries. The portfolio was purchased as a single investment, with more than 60 percent of the properties located in Tier One industrial markets.

“We are proud to announce our largest US warehouse portfolio acquisition since the inception of the business, giving us the opportunity to expand our presence in this important and growing industrial/warehouse sector in the US,” said Mohammed Alardhi, executive chairman of Investcorp. “This investment further reflects our commitment to growing Investcorp’s footprint in the US, which is a key driver of the firm’s overall growth strategy and an area in which we will look to continue expanding as opportunities arise.”