Investcorp buys $380m U.S. portfolio, builds €1b European portfolio

Bahrain-based asset management firm Investcorp has acquired 89 industrial assets for $380 million, raising the company’s industrial real estate holdings to $2.8 billion.

The class B industrial warehouse properties are located in Los Angeles, Dallas, Phoenix, Arizona and Seattle, totaling 2.2 million square feet. The portfolio is 95 percent leased.

“These markets have experienced strong growth in recent years as the rise of e-commerce and need for more efficient supply chains has increased demand for warehousing, distribution and fulfilment centers,” said Investcorp.

In Europe, the firm completed the acquisition of an industrial asset in Scotland and an industrial asset in the West Midlands for a combined purchase price of £15.5 million (€18.27 million/$21.12 million).

The properties mark Investcorp’s 14th and 15th acquisitions in the U.K. industrial and logistics market, comprising 53 properties with a combined area of approximately 4.6 million