Investcorp Capital has acquired a diversified portfolio of US industrial real estate valued at about $400 million, strengthening its position in the sector as demand for logistics and light industrial space continues to rise.
The Abu Dhabi-listed company said the deal, arranged by Investcorp, covers 35 buildings totalling 2.6 million square feet across seven coastal markets.
The assets are located in Philadelphia, northern New Jersey, Long Island, Sacramento, Tampa, South Florida and north Atlanta. The portfolio is 97 per cent occupied and was purchased at what the company described as attractive pricing.
Investcorp expands US industrial portfolio
Investcorp Capital said the assets benefit from limited new supply and sustained demand in the selected markets, which it expects to support rental growth and yield performance.
The largest cluster in the deal is a logistics portfolio in Sacramento, consisting of 13 buildings with a combined area of about 1.3 million square feet. Other holdings include industrial properties in north Atlanta totalling 814,000 square feet across 12 buildings and a South Florida portfolio of around 115,000 square feet in three buildings. Smaller assets include two buildings in Philadelphia, one in northern New Jersey and two in Long Island.
Sana Khater, chief executive of Investcorp Capital, said the acquisition supports the company’s aim of building a diversified book of high-quality alternative assets. “Through acquisitions like this US industrial portfolio, along with other assets, ICAP continues to be well positioned to create long-term value for our shareholders,” she said. Khater added that the transaction demonstrates Investcorp’s ability to source and execute deals that align with “market tailwinds and investor expectations”.
Board member Yusef Al Yusef, who also oversees global distribution for Investcorp, said the US industrial market remains underpinned by strong fundamentals. “The US industrial sector continues to demonstrate exceptional resilience and long-term potential. This portfolio reflects our conviction in high-quality, supply-constrained coastal markets and supports our strategy of investing in durable, income-generating assets,” he said.
Investcorp Capital, founded by Investcorp and listed on the Abu Dhabi Securities Exchange under the symbol ICAP, positions itself as the only ADX-traded firm offering exposure to a globally diversified range of alternative investments. Over the past year it has exited several holdings, including RESA Power in the United States and Citykart in India, while continuing to deploy capital into private equity, real estate and credit opportunities.
The company said these activities reflect its ability to identify and unlock value across markets for shareholders as it expands its international portfolio.