Mubasher: Investcorp on Monday announced the completion of its first European real estate portfolio following the acquisition of seven assets across the UK.

The Bahrain-based global provider and manager of alternative investment products executed the new investment in partnership with the UK-based asset manager Citivale, according to a company statement.

This new acquisition is Investcorp’s third real estate investment in Europe and comprises a GBP 40 million ($52.68 million) portfolio of seven industrial properties situated on 700,000 square feet across the UK.

“As we embark on our next phase of growth, I am pleased that our European real estate team is making significant progress in building out its property portfolio,” said Mohammed Alardhi, Investcorp’s executive chairman.

“The strength of our global network combined with our local expertise provides Investcorp with a leading edge in sourcing and originating real estate deals across Europe,” he added.

Located in High Wycombe, Leeds, South Elmsall, Liverpool, Warrington, Glasgow and Edinburgh, the acquired properties include “three single let distribution warehouses and four multi-let light industrial”, the Bahrain-based investment company stated.

Meanwhile, Mohammed Al-Shroogi, Co-CEO at Investcorp, commented that the portfolio was “well-positioned to benefit from the growing demand for industrial and logistics assets in the UK and the sector’s strong, underlying fundamentals.”

Launched in 2016, Investcorp’s European strategy aims to create a portfolio of income-generating assets. The Bahraini investor’s current investments in European real estate exceeds $100 million.