Investcorp, a global investment manager specializing in alternative investments, has acquired 31 industrial properties totaling approximately 1.6 million square feet across five major US markets for an all-in value of $216 million. The properties grow Investcorp’s US industrial real estate holdings to approximately $4.8 billion across 42 million square feet comprised of more than 600 buildings.

The latest acquisition provides Investcorp with infill industrial warehouses that are 94% occupied. The properties in the portfolio are located in geographies with strong demand for infill industrial projects and include Atlanta, Boston, Central New Jersey, Allentown, PA and San Antonio.

“The continued expansion of e-commerce, coupled with the need for diversified supply chains, has created significant opportunities for investment in factories and warehouses across the United States,” said Herb Myers, co-head of real estate North America at Investcorp. “We look forward to continuing our 27-year heritage of investing in US real estate assets with the acquisition of properties in these major industrial markets.”