Investcorp has sold 10 UK industrial and logistics assets worth £108.4m (€126.2m) to Kennedy Wilson, Realty Income and Investra Capital in separate deals.
The global alternative investment firm said it has sold eight mid box industrial and logistics warehouses located in Doncaster, Leeds, Bilston, Glasgow and Motherwell to Kennedy Wilson.
Investcorp said it sold a detached industrial unit in Hull to Realty Income add that the third sale to Investra Capital comprised a collection of manufacturing and distribution units located in Tamworth.
Investcorp paid £69m to acquire all ten assets during the second half of 2017 and implemented its asset management strategy, involving significant lease extensions and improvements in revenue across the assets.
Neil Hasson, managing director – head of Investcorp European Real Estate, said: “We remain confident about the opportunity we see in the UK industrial and logistics sector, and we continue to see demand in that space both from occupiers and buyers.”
To read the latest edition of the latest IPE Real Assets magazine click here.