Investcorp, which is seeking to expand its real estate activities beyond the US, said it has completed its first European portfolio following the acquisition of seven additional assets in UK.

The seven industrial properties across the UK were bought for a total of £40m (€44.9m), bringing its investments in Europe to more than $100m (€112m).

The investment has been made in partnership with Citivale, a UK-based asset manager.

The properties are located in High Wycombe, Leeds, South Elmsall, Liverpool, Warrington, Glasgow and Edinburgh.

Investcorp said it is the first step in its plan to build on its activities in the US, where it is one of the biggest international real estate investors.

Launched in 2016, Investcorp’s European strategy aims to create a portfolio of income-generating assets for investors.

Investcorp said it will continue to explore other European strategies, targeting income-generating assets across various sectors and geographies.   

Mohammed Alardhi, executive chairman of Investcorp, said: “As we embark on our next phase of growth, I am pleased that our European real estate team is making significant progress in building out its property portfolio.

“This deal is further evidence of the momentum we’re creating in this important pillar of our growth strategy.”