Global alternative investment firm Investcorp has announced that its European real estate business acquired another seven industrial assets through six separate transactions completed between April and June 2023, with an aggregate value of £60 mln (€70 mln).
The properties have a total gross lettable area of approximately 890,000 ft2 (82,600 m2) and are a combination of warehouse/ distribution assets and multi let industrial estates, located across the UK and 100% let to strong tenants.
Neil Hasson, head of Investcorp European Real Estate, said: 'We continue to advance our European real estate strategy with the addition of these high-quality industrial assets located across the UK.
'Key trends such as supply chain resilience and the growth of e-commerce are driving strong demand for these assets, while new supply is constrained. With these attractive market dynamics, we see significant opportunities to create value for our investors through our UK industrial portfolio.'
Tom Martin, Investcorp European Real Estate, added: 'We are pleased to close the acquisitions of these seven UK industrial assets.
'The properties are 100% let, have strong tenants and are located in strategically important areas in the UK. We acquired most of these properties in off-market transactions and will use our active management capabilities to seek to maximize the value of the assets.'
Since launching its European Real Estate business in 2017, Investcorp has acquired nearly €1.4 billion of real estate assets across the UK and Europe.
Investcorp’s European portfolio now consists of 10 office properties across Germany, the Netherlands, Belgium, Italy and the UK, as well as 38 industrial assets and in excess of 700 student beds in the UK.
Investcorp’s global real estate portfolio exceeds $9.2 bn (€8.45 bn) the United States, $200 mln in India, and it recently made a commitment to invest $1 bn in GCC real estate over the next five years.
