Investcorp Grows U.S. Industrial Portfolio with Acquisitions in Minneapolis & Baltimore - Middle East Business News and Information
Transactions totaling over $335 million bolster the firm's strategic presence in well-established Midwest and Mid-Atlantic markets
Manama, Bahrain– Investcorp, a leading global alternative investment firm, today announced that it has acquired two industrial portfolios in the Minneapolis and Baltimore markets for a gross transaction value of over $335 million. The acquisitions bolster Investcorp's strategy to expand its presence in key U.S. industrial markets with significant population bases, diversified economies and resilient tenant demand. The portfolios comprise a total of 27 properties and 2.7 million square feet, and include: Minneapolis Industrial Portfolio, a 17-building portfolio spanning nearly 1.9 million square feet; and
Baltimore Industrial Portfolio, a 10-building portfolio totaling approximately 881,000 square feet.
Yusef al Yusef, Global Head of Distribution at Investcorp, said, 'The evolution of supply-chain logistics over the past several years has continued to support demand in the U.S. industrial sector, which has retained its strong fundamentals throughout market cycles despite broader economic volatility. With e-commerce showing no sign of slowing and a lack of new supply for infill and urban products, we continue to believe in the long-term viability of the asset class.'
As of Q4 2024, market rent growth over the past three years averaged 13.4% in Baltimore and 11.4% in Minneapolis, outpacing the average of 9.3% in the top 50 U.S. metropolitan areas, according to Green Street Advisors. Minneapolis is anchored by a diverse economy with robust labor dynamics, hosting 17 Fortune 500 companies including Target Corporation, Best Buy Co., Inc., 3M Company and General Mills, Inc. Baltimore has seen a recent influx of companies due partially to its pro-business environment, and major corporations such as Optum, Inc., Jones Lang LaSalle Inc. (JLL), Under Armour, Inc. and Morgan Stanley & Co. call the city home.
'The Minneapolis and Baltimore portfolio acquisitions offer us a unique opportunity to scale our presence in two markets with highly diversified tenancies,' stated Michael Moriarty, Managing Director and Head of Commercial Acquisitions at Investcorp. 'The properties making up each of these portfolios feature favorable characteristics such as high average clear heights, ample loading docks, plentiful parking and convenient locations proximate to major thoroughfares, employment centers and residential neighborhoods, ensuring they'll be able to serve the needs of a wide variety of tenants. We look forward to continuing to seek attractive industrial investment opportunities in fundamentally strong markets with proximity to established population bases across the U.S.'
Investcorp is among the top-5 largest cross-border buyers of U.S. real estate over the past five years, according to Real Capital Analytics. The firm's U.S. real estate strategy invests primarily in the industrial and residential asset classes, with 98% of its portfolio consisting of these property types. Additionally, in 2024, the Investcorp real estate team placed at number 51 on PERE's PERE 100, one of the most prominent rankings of real estate equity investment managers in the industry.
Since 1996, Investcorp has acquired approximately 1,400 properties for a total value of over $26 billion.
About Investcorp:
Investcorp is a global investment manager specializing in alternative investments across four asset classes : Private Equity (Mid-Market Buyouts, Growth Investments, and GP Staking), Real Assets (Infrastructure and Real Estate), Credit (CLOs, Broadly Syndicated Loans & Structured Credit, and Middle-Market Direct Lending), and Liquid Strategies (Absolute Return Investments and Insurance Asset Management).
Since our inception in 1982, we have focused on generating attractive returns for our clients and seeking to create long-term value in our portfolio companies by adopting a disciplined investment process, employing talented professionals, and utilizing the resources of a global institution with an innovative approach.
We invest capital in our products and strategies, aligning interests with our clients and other stakeholders. We pursue sustainable value creation through our investments and in the communities in which we operate and take pride in partnering with clients to deliver tailored solutions for their needs.
Today, Investcorp manages $55 billion in assets, including assets managed by third party managers. Investcorp has 14 offices in the US, Europe, GCC and Asia, including, India, China, Japan and Singapore and employs approximately 500 people from 50 nationalities globally.
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