Investcorp announced that its real estate division has invested in an industrial portfolio of properties in Chicago and Boston for $160 million, according to a statement from the company.
The portfolio includes six properties with about 1.8 million square feet of warehouse and distribution space.
“An uptick in e-commerce has improved the fundamentals in the industrial/logistics real estate asset class. As consumers increasingly expect faster and more frequent deliveries, logistics companies are seeking properties in close proximity to large population centers,” said Ryan Bassett, Principal at Investcorp’s Real Estate Investment branch.
The Chicago portfolio is located close to downtown and includes three cold storage industrial buildings. Investcorp partnered with Bridge Development partners.
The Boston portfolio includes a warehouse, distribution and flex portfolio totaling 1.1 million square feet.