Bahrain’s Investcorp completes first European real estate portfolio

Bahrain-based investment firm Investcorp announced that it has completed its first European real estate portfolio following the acquisition of seven additional assets.

The latest investment consists of a portfolio of seven industrial properties across the UK, for a total purchase price of approximately £40m.

The properties are spread over approximately 700,000 sq ft across three single let distribution warehouses and four multi-let light industrial properties.

They are located in High Wycombe, Leeds, South Elmsall, Liverpool, Warrington, Glasgow and Edinburgh, and have a very high level of occupancy rate with more than 40 tenants including many well established occupiers, a statement said.

The portfolio of properties forms part of Investcorp’s UK industrial and logistics programme, which made its first acquisitions in June of this year.

The investment has been made in partnership with UK-based asset manager Citivale.

Mohammed Al-Shroogi, Co-CEO at Investcorp, said: “The portfolio is well-positioned to benefit from the growing demand for industrial and logistics assets in the UK and the sector’s strong, underlying fundamentals.”

Investcorp’s European strategy, which aims to create a portfolio of income generating assets for investors, was launched in 2016.

Following the latest acquisition, its European real estate investment exceeds $100m.

Mohammed Alardhi, executive chairman of Investcorp, said: “Our European real estate team is making significant progress in building out its property portfolio.”

Looking ahead, Investcorp said it will continue to explore other European strategies, targeting income generating assets across various sectors and geographies.