Investcorp Capital buys income-generating US assets

Investcorp Capital, majority-owned by Bahrain-based Investcorp, has acquired a portfolio of US industrial properties as it moves to expand its base of income-generating assets.

The portfolio, consisting of 35 industrial and logistics buildings, was acquired for $400 million on the eastern and western coasts of the US, the company, which is listed on the Abu Dhabi Securities Exchange, said in a statement.

The assets — 22 industrial and 13 logistics buildings — are 97 percent occupied, supported by growing industrial demand, supply shortages and rising rents.

The deal was arranged by Investcorp, the statement said.

The US industrial sector demonstrates exceptional resilience and long-term potential, said Yusef Al Yusef, board Member of Investcorp Capital.

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In May the company exited 12 residential multi-tenant real estate assets across five US states, securing $550 million.

Investcorp unveiled a $526 million venture in March 2024 to acquire industrial real estate in the US. The company’s industrial property holdings in the US are valued at $5.1 billion across 43 million square feet.  

Investcorp Capital shares closed at AED1.53 on Thursday, down 21 percent over the past 12 months. Investcorp owns 71 percent of the company.