Investcorp, a Bahrain-based asset manager, has put together its first European real estate portfolio.
It consists of UK industrial and logistics buildings, but the firm says it will expand its currently $105 million (€89 million) portfolio across other European countries.
Investcorp, which manages $21.3 billion in total, launched its European real estate investments plan in 2016 and said it aimed to create a portfolio of income-generating assets.
The firm said it had recently bought seven industrial properties across the UK for a price of around £40 million.
The buildings comprise approximately 700,000 square feet across three distribution warehouses and four light industrial properties.
The properties are located in High Wycombe, Leeds, South Elmsall, Liverpool, Warrington, Glasgow and Edinburgh.
They have a “very high level of occupancy rate with more than 40 tenants including many well established occupiers”.
The investment was made in partnership with Citivale, a UK-based asset manager.
Neil Hasson, managing director in Investcorp’s real estate investment division in Europe, said: “The portfolio is well-positioned to benefit from the growing demand for industrial and logistics assets in the UK and the sector’s strong, underlying fundamentals.”
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