Bahrain-based investment foundation “Investcorp” has announced expanding its industrial property portfolio by taking over new units in Chicago and Boston with a total value of $160 million.
The new investments include six storage and distribution properties with a total area of 1.8 million square feet.
In Chicago, Investcorp seized 3 separate industrial buildings for cool storage located near the city’s downtown.
As for Boston, the company took over a warehouse and a set of other storage and distribution properties of 1.1 million square feet located in the southern part of the city.
It’s worth mentioning that this is not the first investment for Investcorp in Boston. The company purchased before 4 properties in October 2016 of 900 thousand square feet.
All purchased properties feature a wide and strong base of tenants with long-term contracts which could guarantee a continuous flow of return for holders.
Commenting on the new deals, Investcorp CEO Fahd Murad said that the seizure of these properties is perfect step due the recent invigoration in industrial and logistic property sector in light of the rise of electronic business activity around the world.