Investcorp, an alternative asset manager that considers Mubadala Investment Company as its hugest stakeholder, accomplished the sale of a portfolio of 10 industrial and logistics assets in the United Kingdom. Investcorp made the sales to distinct purchasers as it sought to cash in on demand for industrial assets whilst e-commerce surges.
Investcorp sold properties located around the United Kingdom to global property investment firms – Kennedy Wilson, Realty Income, and Investra Capital for GBP 108.4 million (USD 145.54 million), the firm stated in a statement on Sunday.
The firm sold the properties after the Bahraini asset manager executed a strategy that elaborated crucial lease extensions and augmentations in revenue.
Khulood Ebrahim, a real estate product specialist at Investcorp, indicated that industrial and logistics real estate assets are crucial for steering e-commerce and underpinning supply chains. As a result, the firm remained focused on investing in these industries.
The demand for logistics and industrial assets has surged because of enhanced e-commerce activity during the coronavirus pandemic. According to the 2021 European E-commerce Report by trade bodies Ecommerce Europe and EuroCommerce, in 2020, Europe’s e-commerce market matured to EUR 757 billion (USD 844.99 billion), an increase of around 10% from EUR 690 billion (USD 770.20 billion) a year before.
Investcorp took over the assets in the second half of 2017 for GBP 69 million (USD 92.58 million) and sold them last month.
According to Investcorp, the sale to Kennedy Wilson encompassed a portfolio of eight industrial and logistics warehouses situated in the overall distribution markets of Leeds, Doncaster, Bilston, Motherwell, and Glasgow.
The firm stated that the second sale, to Realty Income, encompassed a contemporary disconnected industrial unit in Hull, comprising 270,388 square feet.
Investcorp indicated that the third sale to Investra Capital encompassed a collection of distribution and manufacturing units in Tamworth, comprising 201,309 square feet.
Since releasing its European real estate business in 2017, the firm stated that Investcorp has invested around EUR 1 billion (USD 1.12 billion) into 80 properties throughout the United Kingdom, the Netherlands, Germany, Belgium, and Italy.
Investcorp is a global investment managing firm specializing in alternative investments throughout the real estate, credit, private equity, absolute return strategies, infrastructure, and GP stakes. Since the firm’s conception in 1982, it has focused on producing attractive returns for its consumers. Additionally, it has also fabricated a long-term value for its investee firms and its stakeholders.
The firm invests a meaningful portion of its capital in products it offers to its consumers. Investcorp ensures that its interests within the market are resonating with its shareholders to drive sustainable value creation. The firm takes pride in collaborating with its consumers to serve custom-made solutions for their needs. The firm uses a disciplined investment procedure, employing world-class talent and amalgamating the resources of an international entity with an entrepreneurial and innovative approach.
Investcorp is present in 12 nations across the United States, the GCC, Europe, and Asia, including China, India, and Singapore.