Investcorp expands its US industrial real estate holdings with new acquisition

By Arya M Nair, Intern Reporter
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Investcorp, a Bahrain-based leading global alternative investment firm, has acquired 64 industrial properties totaling approximately 5.6 million square feet across seven major US markets for an all-in value of $640 million.

The properties expand Investcorp’s US industrial real estate holdings to around $3.5 billion across approximately 32 million square feet comprised of more than 425 buildings, having exposure to dense population centers with robust transportation infrastructure, proximity to interstate highways and large, diverse economies.

The latest acquisitions provide Investcorp with Class B+/B industrial warehouses that are 95 percent leased. The properties are primarily located in the top major industrial markets by size including Chicago, Illinois (ranked 1st), Dallas, Texas (ranked 2nd), the New York metro (ranked 4th), Atlanta, Georgia (ranked 5th), Houston, Texas (ranked 6th), Philadelphia, Pennsylvania (ranked 9th) and St. Louis, Missouri (ranked 20th).

Herb Myers
Herb Myers
MD – Real Estate Investment

“The industrial and logistics sector has continued to benefit from strong tailwinds, mainly driven by an increase in eCommerce, that was heightened by the pandemic. This activity has led to a need for available warehouses and fulfillment centers to match the exceedingly high demand. With this trend expected to continue throughout 2022, we’re eager to expand our portfolio and capitalize on the current drivers of industrial growth.”

Mr. Michael Moriarty, Principal, Commercial Acquisitions at Investcorp said that “We’ve entered 2022 optimistic about the macroeconomic factors that are driving industrial growth in the US. Our latest acquisitions reflect our expectation that outsized rent growth will continue and that the industry fundamentals in each market will remain strong.”

Since 1996, Investcorp has acquired over 1,100 properties for a total value of approximately $23 billion. According to Real Capital Analytics, Investcorp is among the top-10 largest cross-border buyers and sellers of US real estate over the past three full years of 2019, 2020 and 2021.

Related: Investcorp leads $55mn funding in Indian warehousing major ‘NDR’