Investcorp buys industrial portfolio in South Wales via its affiliate

By Shilpa Annie Joseph, Official Reporter
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Bahrain-based global asset manager company Investcorp has acquired 13 multi-let industrial assets in South Wales, UK, through an affiliate.

The company said in a statement that the acquisition follows Investcorp’s strategy of investing in industrial real estate and marks its first real estate investment in the Welsh market.

The properties are located near key transport connections in the wider Cardiff region, spanning 1.1 million square feet of industrial, warehouse, and distribution accommodation. They are currently 87 percent leased by a large group of tenants varying from small and medium enterprises to manufacturers, trade counter occupiers and distribution companies, Investcorp added.

Khulood Ebrahim
Khulood Ebrahim
Real Estate Product Specialist

“Industrial, warehouse and logistics real estate are experiencing strong demand to enable eCommerce. We are pleased to further enhance our industrial real estate footprint in the UK by expanding into Wales. Given the limited supply and heightened demand for well-located industrial real estate, we believe that there continues to be the potential for further growth and value creation for the asset class.”

The acquisition marks Investcorp’s 11th property investment in the UK since starting its European real estate business in 2017, into which it has deployed approximately $971 million. This included acquiring more than 40 industrial and logistics properties in the UK, with a combined area of approximately 4 million square feet.

“With the acquisition of the 13 industrial assets in Wales, Investcorp will continue to further strengthen its industrial real estate portfolio across the UK”, commented Tarek AlMahjoub, head of UAE and Oman for Investcorp’s private wealth unit.

Last year, Investcorp has completed the sale of seven industrial real estate assets in the UK to Mileway, a pan-European last-mile logistics real estate firm owned by American alternative investment management company, Blackstone Group.

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