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Investcorp on Tuesday announced that its US-based real estate investment team acquired a portfolio of eight single-tenant distribution pr-operties in various locations across US for a combined purchase price of approximately $170 million. The properties in the portfolio total 1.4 million square feet and are 100 percent leased.
“We are pleased to add these properties to our growing portfolio of assets in the logistics space, a core component of our global real estate investment strategy,†said Hazem Ben-Gacem, Co-CEO of Investcorp. “We have a bullish outlook on logistics real estate assets because we believe they are supported by strong market dynamics, especially on the back of the healthy growth in e-commerce.â€
“Each of these properties is fully leased by well-known tenants on long-term leases across key cities in the US, enabling us to deliver attr-active cash flow to our investors,†he added.