Investcorp, buoyed by the promise of the sector, has added to its industrial holdings by acquiring 89 industrial properties totaling near 2.2 million square feet in Los Angeles, Dallas, Phoenix, and Seattle for $380 million.
The properties bring the company's US industrial holdings to $2.8 billion with 27 million square feet in more than 385 buildings.
The firm now has a 95% leased portfolio of Class B industrial warehouses with tenants from a wide range of industries including technology, industrial services, business and administrative services, and maintenance and contracting services.
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