Investcorp Obtains Two Industrial Portfolios for $800M
The transaction serves as the firm’s largest real estate portfolio acquisition to date.
NEW YORK, NY – Investcorp’s US-based real estate team has acquired a portfolio of 126 industrial assets for a total capitalization of $800 million, completed across two separate transactions.
The portfolio comprises 10.2 million square feet of properties, located throughout the five major metropolitan areas of Atlanta, Chicago, Dallas, Charlotte and Memphis.
The acquisition provides Investcorp with a 91.5% leased portfolio of class-A and class-B warehouse, distribution and light manufacturing/research and development buildings, across industries including logistics, e-commerce, industrial chemicals and food services.
A portion of the portfolio was acquired from Taurus Investment Holdings, which sold its logistics portfolio of 117 buildings totaling 8.2 million square feet to the firm. For the disposition, Taurus exited its US Logistics Fund I and III, totaling $204 million in equity capital. Taurus will remain the co-invested manager of the portfolio in joint-venture with Investcorp.
The transaction serves as Investcorp’s largest real estate portfolio acquisition in its history.
The recent milestone aligns with the firm’s growth strategy; intending to build its position as one of the largest international buyers of US real estate.
Identifying an increased demand for industrial real estate assets near major population centers, driven by e-commerce and faster delivery needs, Investcorp is aiming to capitalize on opportunities within the sector by building its industrial and logistics portfolio.
Seeking investment opportunities to enhance its platform and deploy greater capital, the firm plans to continue acquiring strategically-assembled assets that generate cash flow and sustain high-occupancy in key markets across the US.
A global provider and manager of alternative investment products, Investcorp currently owns 240 industrial properties across the US, totaling more than 20 million square feet, including this recent acquisition.
Investcorp aims to generate value through services within private-equity, real estate, absolute return investments, infrastructure, credit management and strategic capital. The firm employs 430 professionals throughout its offices, and has made more than 185 private equity deals and more than 650 real estate investments, for more than $60 billion in transaction value, since its inception in 1982.
Taurus Investment Holdings, established in 1976, serves as a global provider and manager of alternative investment products. A partner, investor and operator, the firm aims to make strategic investments into value-add, core-plus and development opportunities.