Manama, Jan. 30 (BNA): Global alternative investment firm Investcorp announced that it has completed the sale of 10 British industrial and logistics assets to three different buyers, Kennedy Wilson, Realty Income and Investra Capital, for a total of £1. 108.4 million.
Kennedy Wilson’s first sale included a group of eight mid-size industrial and logistics warehouses located in the existing distribution markets of Doncaster, Leeds, Bilston, Glasgow and Motherwell, with a total area of 588,997 square feet.
Realty Income’s second sale consists of a modern, separate manufacturing unit located in Hull, totaling 270,388 square feet.
Investra Capital’s third sale comprises of a group of manufacturing and distribution units located in Tamworth, with a total area of 20,309 square feet.
Investcorp acquired all 10 assets during the second half of 2017 at a combined price of £69 million and successfully implemented its asset management strategy, including lease extensions and revenue optimization across assets. The company launched a full marketing operation in September 2021, resulting in a successful sale to three separate buyers in December 2021.
Since launching its European real estate business in 2017, Investcorp has invested nearly €1 billion in 80 properties across the UK, Germany, the Netherlands, Italy and Belgium.
“We are pleased to have successfully exited these UK assets. Industrial and logistical real estate assets are critical to driving e-commerce and supporting supply chains, and we remain focused on investing in these sectors. We will continue to leverage our deep expertise in Market and successful investment history in real estate to identify attractive opportunities that match our criteria and have the potential to create value for our clients.”
FKN