Investcorp Acquires 1.6M SF Portfolio In 5 US Markets For $216M

Investcorp has acquired a 31-property, 1.6 million-square-foot portfolio in five major U.S. markets for $216 million. This portfolio expands Investcorp's national industrial holdings, which now encompass 600 buildings totaling 42 million square feet and valued at $4.8 billion. The properties are located in Atlanta, Boston, Central New Jersey, Allentown, Pennsylvania, and San Antonio, Texas.

Summary of transaction details:

• Property Type: Package Deal
• Transaction Amount: $216,000,000
• Address: Portfolio
• Market: Atlanta, Boston, Central New Jersey, Allentown, Pa., & San Antonio, Texas

The buyer of this portfolio is Investcorp, with Michael Moriarty and Herb Myers representing the company. The sale price for the portfolio was set at $216 million, with each square foot priced at $135. This acquisition reflects Investcorp's confidence in the growing industrial sector, driven by the rise of e-commerce and evolving supply chain dynamics.

It is important to note that Investcorp's national industrial holdings now include a diverse range of properties across multiple markets, showcasing their significant presence in the industrial real estate sector.