Dubai: Bahrain based asset management company Investcorp has acquired a portfolio of 13 multi-let industrial assets in South Wales through an affiliate.
The company has been building up its industrial real estate portfolio, and the latest represents its first real estate investment in Wales. Close to key transport connections in the wider Cardiff region, the portfolio comprises 1.1 million square feet of industrial, warehouse and distribution accommodation. It is currently 87 per cent leased.
The acquisition marks Investcorp’s 11th property investment in the UK since launching its European real estate business in 2017. It has deployed around 800 million euros across its European portfolio. This includes acquiring more than 40 industrial and logistics properties in the UK, with a combined area of approximately 4 million square feet. (The sale of a portfolio of UK industrial assets to Mileway was completed in October last.)
According to Khulood Ebrahim, Real Estate Product Specialist at Investcorp, “Industrial, warehouse and logistics real estate are experiencing strong demand to enable e-commerce. Given the limited supply and heightened demand for well-located industrial real estate, we believe that there continues to be the potential for further growth and value creation for the asset class.”