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Investcorp Snaps Up 22M-SF Midwest Industrial Portfolio
Investcorp acquired 32 industrial properties totaling approximately 3.5 million square feet across four major Midwest markets for a total capitalization of over US $280 million. The properties grow Investcorp’s U.S. industrial real estate portfolios to approximately $2 billion, with 22 million square feet across more than 260 buildings.
The latest acquisitions provide Investcorp with a new 96% leased portfolio of Class A and B warehouse, distribution and flex industrial buildings with a diversified tenant base across a range of industries.
The portfolio includes a brand-new building leased 100% to a leading multinational Fortune 100 company. The properties comprising the portfolio are primarily located in the Chicago and Cleveland markets, with Columbus and Cincinnati also represented
Herb Myers, managing director and co-head of real estate North America at Investcorp, said, “We believe these properties align with our disciplined criteria for targeting stable, cash flow generating assets with further upside potential.”
Photo courtesy of Investcorp.
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- ◦Sale/Acquisition
