Investcorp Capital has acquired a diversified portfolio of US industrial actual property valued at about $400 million, strengthening its place within the sector as demand for logistics and lightweight industrial area continues to rise.
The Abu Dhabi-listed firm stated the deal, organized by Investcorp, covers 35 buildings totalling 2.6 million sq. toes throughout seven coastal markets.
The property are positioned in Philadelphia, northern New Jersey, Lengthy Island, Sacramento, Tampa, South Florida and north Atlanta. The portfolio is 97 per cent occupied and was bought at what the corporate described as engaging pricing.
Investcorp expands US industrial portfolio
Investcorp Capital stated the property profit from restricted new provide and sustained demand within the chosen markets, which it expects to help rental progress and yield efficiency.
The biggest cluster within the deal is a logistics portfolio in Sacramento, consisting of 13 buildings with a mixed space of about 1.3 million sq. toes. Different holdings embody industrial properties in north Atlanta totalling 814,000 sq. toes throughout 12 buildings and a South Florida portfolio of round 115,000 sq. toes in three buildings. Smaller property embody two buildings in Philadelphia, one in northern New Jersey and two in Lengthy Island.
Sana Khater, chief govt of Investcorp Capital, stated the acquisition helps the corporate’s intention of constructing a diversified e book of high-quality different property. “Via acquisitions like this US industrial portfolio, together with different property, ICAP continues to be effectively positioned to create long-term worth for our shareholders,” she stated. Khater added that the transaction demonstrates Investcorp’s means to supply and execute offers that align with “market tailwinds and investor expectations”.
Board member Yusef Al Yusef, who additionally oversees world distribution for Investcorp, stated the US industrial market stays underpinned by sturdy fundamentals. “The US industrial sector continues to display distinctive resilience and long-term potential. This portfolio displays our conviction in high-quality, supply-constrained coastal markets and helps our technique of investing in sturdy, income-generating property,” he stated.
Investcorp Capital, based by Investcorp and listed on the Abu Dhabi Securities Change underneath the image ICAP, positions itself as the one ADX-traded agency providing publicity to a globally diversified vary of other investments. Over the previous 12 months it has exited a number of holdings, together with RESA Energy in the US and Citykart in India, whereas persevering with to deploy capital into personal fairness, actual property and credit score alternatives.
The corporate stated these actions replicate its means to determine and unlock worth throughout markets for shareholders because it expands its worldwide portfolio.
