Royal Institute for Traditional Arts launches training on Al-Qatt Al-Asiri art    Nearly 2 million worshippers prayed in Rawdah at Prophet's Mosque during Hajj 1446    Saudi Arabia expands tech talent schools to five regions for 2025    Aubameyang exits Al Qadsiah as club turns to youth with Retegui signing    France withdraws troops from Senegal, ending military presence in West Africa    Germany's Merz and UK's Starmer sign 'first of its kind' defense and migration treaty    Norway leads Europe's best airports list    Syrian forces leave Sweida after ceasefire with Druze militias goes into effect    Main stage at Belgium's Tomorrowland music festival completely destroyed by fire    Sports vehicles can have now short number plates    Saudi Arabia draw Iraq and Indonesia in 2026 World Cup Asian play-off group    Saudi conjoined twins Yara and Lara successfully separated in 12.5-hour surgery    Babies made using three people's DNA are born free of hereditary disease    'Art of the Kingdom' exhibition to open in Beijing's National Museum on July 30    Saudi minister holds strategic AI and tech talks with French institutions in Paris    ASICS and Saudi Sports for All launch startup pitch to boost sports innovation in Saudi Arabia    Youth-led Saudi businesses exceed 474K    Scientists recover proteins from a 24 million-year-old rhino fossil    Jorge Jesus returns to Saudi Arabia as Al Nassr head coach on one-year deal    Jannik Sinner beats Carlos Alcaraz to win his maiden Wimbledon title    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Investcorp grows US industrial real estate portfolio to $2bn
Published in The Saudi Gazette on 26 - 10 - 2020

Investcorp, a leading global provider and manager of alternative investment products, today announced that it has acquired 32 industrial properties totaling approximately 3.5 million square feet across four major US markets for a total capitalization of over $280 million.
The properties grow Investcorp's wider US industrial real estate portfolios to approximately $2 billion with 22 million square feet comprised of 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, including: healthcare, logistics, e-commerce, industrials, telecommunications and food services, among others.
The portfolio includes a brand new, state of the art building leased 100% to a leading multinational Fortune 100 company. The properties comprising the portfolio are primarily located in the major industrial markets of Chicago, Illinois and Cleveland, Ohio, which rank as the first and 11th largest industrial markets in the US, respectively. Additional MSAs comprising the portfolio include Columbus and Cincinnati, Ohio.
Yasser Bajsair, CEO of Investcorp KSA, said: "The global COVID-19 pandemic has further underscored the importance of industrial real estate assets located near major population and logistics hubs. We are excited to enhance our wider industrial real estate portfolio through the acquisition of these highly occupied properties in desirable industrial markets."
Babak Sultani, managing director in the placement and distribution team at Investcorp, said: "Industrial, warehouse and logistics real estate are among our highest conviction global investment themes in today's landscape. E-commerce sales are growing at a 15% CAGR, far outpacing industrial real estate supply at a 1.5% CAGR.
"We believe these tailwinds along with greater supply chain diversification, and on-shoring of goods in the US due to COVID-19 to maintain greater inventory levels, will drive greater demand for industrial real estate assets like the ones we have assembled across our portfolio."
Investcorp ranked as the second largest international buyer and fourth largest international seller of US real estate for the 2019 calendar year, according to Real Capital Analytics. In addition, Investcorp ranked as a top-15 overall buyer of US industrial real estate for the 2019 calendar year, according to Real Capital Analytics. — SG


Clic here to read the story from its source.