Mubasher: Investcorp on Monday has announced acquiring a warehouse portfolio in the US for a total purchase price of approximately $300 million.
The transaction is the Bahrain-based private equity firm's largest takeover deal in the US, according to an official statement.
This deal is the ninth industrial portfolio which is acquired by Investcorp over the past 36 months.
The warehouse comprises 56 industrial properties across seven metropolitan markets, with an approximate area of 4.5 million square feet.
This deal offers Investcorp with a 90% leased portfolio of Class A and Class B warehouse.
“This investment further reflects our commitment to growing Investcorp’s footprint in the US, which is a key driver of the firm’s overall growth strategy and an area in which we will look to continue expanding as opportunities arise,” Investcorp’s executive chairman Mohammed Alardhi said.
