29 Sep 2025

Portfolio sale surpasses return projections, continuing firm’s successful track record in industrial real estate

Investcorp, a leading global alternative investment firm, today announced that it 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. The sale resulted in returns exceeding original underwritten expectations.

“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. “We capitalized on peak pandemic dislocation in 2020 to acquire these well-located assets at a highly attractive basis and were able to drive NOI growth via lease-up and mark-to-market opportunities. 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. We remain committed to and focused on selective investment in business-friendly environments with strong fundamentals, which we expect to continue to flourish in the coming years.”

The liquidated portfolios include:

· A group of 23 light industrial assets spanning more than 2 million square feet across Ohio’s three most populous cities, Columbus, Cincinnati and Cleveland, strategically concentrated within leading submarkets

· An eight-building, nearly 1 million-square-foot industrial park located just three miles from O’Hare International Airport outside of Chicago

· A 434,000-square-foot distribution facility located in the Cleveland MSA

The industrial asset class in the midwestern U.S., one of the most densely populated areas of the country, has shown resilience even as other regions have cooled. Demand for distribution facilities in these markets, where companies are prioritizing supply chain efficiency and proximity to major population centers such as Chicago and Cleveland, remains high.

Investcorp is one of the top five largest cross-border buyers of U.S. real estate over the past five years, according to Real Capital Analytics, and 98% of the firm’s U.S. portfolio is invested in industrial or residential properties. The Investcorp real estate team placed at number 42 on the 2025 PERE 100 list – one of the most prominent rankings of real estate equity investment managers in the industry – up from 51 in 2024.

Since 1996, Investcorp has acquired approximately 1,500 properties for a total value of approximately $28 billion.