Investcorp strikes deals with Kennedy Wilson, Realty Income and Investra Capital

Investcorp has sold 10 U.K. industrial and logistics assets to three different buyers — Kennedy Wilson, Realty Income and Investra Capital — for a combined total of £108.4 million ($145 million).

The first sale to Kennedy Wilson was for a portfolio of eight mid-box industrial and logistics warehouses totaling 588,997 square feet. The sale to Realty Income comprised a modern detached industrial unit located in Hull, totaling 270,388 square feet, and the third sale to Investra Capital consisted of a collection of manufacturing and distribution units, totaling 201,309 square feet.

Investcorp acquired all 10 assets during the second half of 2017 for a combined price of £69 million ($92.5 million), and subsequently implemented an asset management strategy that involved significant lease extensions and improvements in revenue across the assets.

Neil Hasson, managing director — head of Investcorp European Real Estate, said the firm remains focused on identifyin