Global alternative investment firm Investcorp has added $400m (€344m) worth of assets to its US industrial real estate portfolio.
Investcorp said it has acquired the 2.6m sqft portfolio of 35 buildings featuring properties located across seven coastal markets in both the eastern and western US.
The assets include: two industrial buildings in Philadelphia, Pennsylvania; one building in northern New Jersey; two buildings on Long Island, New York; two buildings in Tampa, Florida; and three buildings in South Florida. The assets also include a logistics portfolio featuring 13 buildings in Sacramento, California and a light-industrial portfolio consisting of 12 buildings in North Atlanta.
Herb Myers, global head of real assets at Investcorp, said: “Despite shifting trade dynamics and supply-chain disruptions across the country, the US industrial sector has retained its foundational strength. This is particularly true for these and similar properties, which exhibit diversified rent rolls and are located in highly accessible infill locations in top coastal industrial regions.
“In addition, government incentives and infrastructure investments are fuelling the expansion of the domestic industrial sector, creating more growth potential. We plan to continue to seek opportunities to deploy capital into US industrial properties that align with our forward-thinking investment thesis.”
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