Investcorp, a Bahrain-based asset manager which counts Mubadala Investment Company as its biggest shareholder, on Monday announced that it has acquired 64 industrial properties totaling approximately 5.6 million square feet across seven major US markets for an all-in value of US $640 million.
The properties grow Investcorp’s US industrial real estate holdings to approximately $3.5 billion across approximately 32 million square feet comprised of more than 425 buildings, a company press release said on Tuesday.
The latest acquisitions provide Investcorp with Class B+/B industrial warehouses that are 95 percent leased.
“We are pleased to have made another acquisition in the industrial and logistics sector as this sector continues to benefit from strong tailwinds, mainly driven by an increase in e-commerce, that were heightened by the pandemic,” Yusef Al Yusef, Managing Partner for Investcorp’s Private Wealth, said. “We believe that through such acquisitions, we will further strengthen our position as a leading global, alternative investment firm.”