Investcorp Now Owns More than 425 Warehouses in the U.S.

Posted on 02/15/2022


Investcorp announced that it has acquired 64 industrial properties totaling approximately 5.6 million square feet across seven major U.S. markets for an all-in value of US$ 640 million. The properties grow Investcorp’s U.S. industrial real estate holdings to approximately US $3.5 billion across approximately 32 million square feet comprised of more than 425 buildings.

The latest acquisitions provide Investcorp with Class B+/B industrial warehouses that are 95% leased. The properties are primarily located in the top major industrial markets by size including Chicago, Illinois (ranked 1st), Dallas, Texas (ranked 2nd), the New York metro (ranked 4th), Atlanta, Georgia (ranked 5th), Houston, Texas (ranked 6th), Philadelphia, Pennsylvania (ranked 9th) and St. Louis, Missouri (ranked 20th). The ranked data is from CBRE Econometric Advisors as of Q3 2021. The properties have exposure to dense population centers with robust transportation infrastructure, proximity to interstate highways and large, diverse economies.

“The industrial and logistics sector has continued to benefit from strong tailwinds, mainly driven by an increase in e-commerce, that were heightened by the pandemic. This activity has led to a need for available warehouses and fulfillment centers to match the exceedingly high demand. With this trend expected to continue throughout 2022, we’re eager to expand our portfolio and capitalize on the current drivers of industrial growth,” said Herb Myers, Co-Head of Real Estate North America at Investcorp.

Investcorp is optimistic for 2022 about the macroeconomic factors that are driving industrial growth in the U.S.

India
On February 9, 2022, Investcorp led a US $55 million investment in NDR Warehousing Private Limited, one of the largest Indian warehousing platforms. NDR’s well-diversified asset portfolio comprises 18 high quality logistics parks spread across over 8 cities including Chennai, Mumbai, the National Capital Region, Bangalore, Coimbatore and Kolkata. Over the next few years, the company is planning to double its portfolio from the current 11.6 million square feet as it expands into other cities such as Pune and Goa. Its portfolio has performed resiliently even during the Covid pandemic due to its high-quality tenant base and has a current occupancy rate of over 99%.

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