Investcorp amasses €1bn European portfolio with industrial buys
Investcorp has completed the acquisition of two industrial assets in Scotland and the West Midlands for a combined £15.5m, bringing the value of its European real estate portfolio to €1bn (£852m).
The asset acquired in the West Midlands is a 109,000 sq ft manufacturing and distribution warehouse on Burntwood Business Park, in Cannock. The property was purchased for £11m.
The firm also bought the 51,000 sq ft Drums Main Park in Cumbernauld, Scotland, for £4.5m.
Investcorp has completed the acquisition of two industrial assets in Scotland and the West Midlands for a combined £15.5m, bringing the value of its European real estate portfolio to €1bn (£852m).
The asset acquired in the West Midlands is a 109,000 sq ft manufacturing and distribution warehouse on Burntwood Business Park, in Cannock. The property was purchased for £11m.
The firm also bought the 51,000 sq ft Drums Main Park in Cumbernauld, Scotland, for £4.5m.
Including the two purchases, the investment manager has made 15 acquisitions in the UK industrial and logistics market, bringing its total count to 4.6m sq ft across 53 properties. It previously bought a portfolio of industrial assets from Custodian REIT and a multi-let industrial estate in the North West last month.
Investcorp has deployed £315m into the sector over the past four years.
Since launching its European real estate business in 2017, Investcorp has invested around €1bn into 80 properties across the UK, Germany, Netherlands, Italy and Belgium.
Neil Hasson, managing director and head of Investcorp European Real Estate, said: “We believe the UK industrial sector is primed to become one of the driving forces behind the UK’s real estate market, and our portfolio is well-positioned to benefit from this flourishing market.
“We remain focused on working through an attractive pipeline of investment opportunities.”
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