Mubasher: Investcorp announced the acquisition of a GBP 16 million fulfilment centre in Leeds, marking the closure of its third UK industrial and logistics programme (“UKIL III”).

The global leading manager and provider of alternative investment products has acquired 28 industrial and logistics assets in the UK at a combined value of over GBP 200 million and at a total area of nearly 2.8 million square feet since June 2017, according to a statement on Wednesday.

Investcorp’s total real estate assets under management (AUM) in Europe, including four real estate investments in Germany, have increased to more than EUR 500 million.

"UKIL III comprises 1,000,000 square feet of industrial and logistics assets across ten single-let industrial properties," the statement showed. 

The assets, situated in St Helens, Livingston, Glasgow, Manchester, Birmingham and Leeds, were acquired in six different deals for a total amount of more than GBP 80 million.

“Over the past two years, [Investcorp has] successfully executed [its] strategy to build a portfolio of well-located, income-generating industrial and logistics assets based throughout the UK,” Neil Hasson, managing director and head of Investcorp European Real Estate, said.

“Demand for these types of assets is growing at a rapid rate and [Investcorp continues] to view this as a thriving market with immense growth potential,” Hasson noted.