4 July 2017
Reporter: Theo Andrew

Investcorp enters European market with logistics buy

Investcorp has acquired two warehouses in Doncaster and a light manufacturing facility in Hull, its first acquisitions in Europe, for £35 million.

Purchased in partnership with real estate investment group Brydell Partners, the properties span a total of 504,000 square feet and are let to two different tenants on long-term leases.

The acquisitions seed the group's UK industrial and logistics programme, following the success of its US logistics arm, targeting income-generating industrial assets across the UK.

According to the Investcorp, the company plans to grow this portfolio to over £100 million with individual assets valued between £10 million and £20 million.

Mohammed Al Ardhi, executive chairman of Investcorp, said: “Today’s announcement marks the beginning of an exciting new chapter for Investcorp’s European real estate operations.”

He added: “As we approach our medium-term target of $25 billion assets under management and are actively working on a strategy to increase that to $100 billion.”

Neil Hasson, managing director in Investcorp’s real estate investment division in Europe, said: “Both the Doncaster and Hull assets fit well within our UK industrial and logistics programme. The assets are well located and we believe they are positioned to benefit from the growth in ecommerce and consumer spending habits.”

He added: “In addition to our UK industrial programme, we continue to explore multiple other European strategies, targeting income generating assets across various sectors and European geographies.”

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