Bahrain-based alternative investment firm, Investcorp, has said that the value of its US real estate assets has reached US$2 billion.
The milestone was reached after Investcorp purchased 32 industrial properties in four US cities for a total capitalisation in excess of $280 million.
Investcorp now holds more than 260 buildings in the US covering 22 million square feet. Much of its portfolio was acquired in 2019 when it ranked as the second-largest international buyer of US real estate.
The fund manager’s current focus is on the industrial, logistics and warehouse real estate, which Tarek AlMahjoub, managing director for the Dubai and Oman markets, described as a “highly attractive and resilient opportunity” for Investcorp.
“We are confident these highly leased properties will continue to generate solid cash flows while benefitting from the ongoing growth of e-commerce,” he added.
© 2020 funds global mena