Thursday 21 November 2019
 
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Investcorp acquires new logistics facility in UK

MANAMA, 28 days ago

Investcorp, a leading global provider and manager of alternative investment products, has announced the completion of its third UK Industrial and Logistics Programme (UKIL III) following its take over of a £16-million ($18 million) fulfilment centre in Leeds.

The UKIL III comprises 1 million sq ft of industrial and logistics assets across 10 single-let industrial properties. The assets, which are located in St Helens, Livingston, Glasgow, Manchester, Birmingham and Leeds, were purchased across six separate transactions for a combined value of over £80 million.

Since June 2017, Investcorp has acquired industrial and logistics assets in the UK with a value of over £200 million, and with a combined area of approximately 2.8 million sq ft across 28 assets.

In combination with four real estate investments in Germany, the Bahrain-based group has grown its total European real estate assets under management (AUM) to over €500 million ($557 million).

Commenting on the acquisition, Neil Hasson, the managing director and head of Investcorp European Real Estate, said: "We are very pleased to announce the close of our third UK Industrial and Logistics programme. Over the past two years, we have successfully executed Investcorp’s strategy to build a portfolio of well-located, income-generating industrial and logistics assets based throughout the UK."

"Demand for these types of assets is growing at a rapid rate and we continue to view this as a thriving market with immense growth potential," he stated.

"We are continuing to work through an attractive pipeline of new investment opportunities in the UK and continental Europe. The continued growth of our European real estate portfolio is key to achieving our mission to serve investors worldwide with a diversified portfolio of attractive alternative investments, he added.-TradeArabia News Service




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