
Investcorp Claims 7-Market, 4.5M-SF Industrial Portfolio for $300M
New York-based Investcorp acquired its largest U.S. warehouse portfolio, totaling roughly 4.5 million square feet, for a total purchase price of approximately $300 million. The 56 industrial properties are spread across seven metropolitan markets.
The 90%-leased portfolio includes Class A and B warehouse, light manufacturing and flex buildings, across the e-commerce, manufacturing, design, wholesaling and food services industries. The portfolio was purchased as a single investment, with more than 60% of the properties located in Tier 1 industrial markets.
The properties include:
- Nine multi-tenant Class A and B warehouses in Minneapolis
- Sixteen multi-tenant Class B industrial warehouse/flex buildings in Dallas
- Fourteen single and multi-tenant Class B industrial warehouse/manufacturing buildings in Chicago
- Nine multi-tenant Class A and Class B industrial warehouse and flex buildings in Philadelphia / Delaware
- Five multi-tenant Class A and Class B industrial warehouse/manufacturing buildings in Phoenix
- Two multi-tenant Class B industrial warehouse buildings in Houston
- One multi-tenant Class B industrial warehouse building in San Antonio
The acquisition represents Investcorp’s ninth industrial portfolio, all of which were acquired over the past 36 months, and brings its U.S. industrial asset holdings to 14 million square feet.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition