Investcorp has completed the liquidation of a portfolio of U.S. industrial properties located across the midwestern U.S. for $365 million. The disposition involved assets totaling approximately 3.5 million square feet and spanning multiple cities, including Chicago, Illinois, as well as Cleveland, Cincinnati and Columbus, Ohio.
“We continue to believe in the industrial asset class, and the success of this portfolio liquidation is a testament to our prudent capital deployment into key U.S. markets,” said Herb Myers, Global Head of Real Assets for Investcorp. “Though growth in the industrial sector has moderated from the highs of 2021 and 2022, we still see strong opportunity to invest in attractive submarkets near well-populated consumption centers that are easily accessible across numerous forms of transportation.”
The liquidated portfolios include a group of 23 light industrial assets spanning more than 2 million square feet across Columbus, Cincinnati and Cleveland. It also includes an eight-building, nearly 1 million-square-foot industrial park located near O’Hare International Airport, and a 434,000-square-foot distribution facility located in the Cleveland MSA.
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