Investcorp Acquires $200M+ Industrial Real Estate Portfolio Across Dallas-Fort Worth, Chicago, Indianapolis and Cincinnati

Investcorp has completed the acquisition of a 19-property industrial portfolio spanning approximately 1.4 million square feet across four major U.S. distribution markets for more than $200 million, the firm announced May 18, 2026.

The portfolio is approximately 97% occupied and includes assets in Dallas-Fort Worth, Chicago, Indianapolis and Cincinnati — markets the firm describes as established logistics hubs with proximity to major population centers and critical transportation infrastructure.

Portfolio Breakdown

The 19-property portfolio is distributed across four markets:

• Dallas-Fort Worth, TX: 13 buildings totaling nearly 1 million square feet
• Chicago, IL: Four properties totaling approximately 286,000 square feet
• Indianapolis, IN: One property comprising nearly 130,000 square feet
• Cincinnati, OH: One property totaling 44,000 square feet, which is 100% occupied

Tenants span a range of industries including light manufacturing, industrial services, logistics, wholesale distribution and consumer-related businesses, according to the firm.

"We remain focused on acquiring well-located industrial assets at attractive price points with strong in place cash flow and clear opportunities for value creation," said Ben Gilman, Co Head of U.S. Commercial Acquisitions at Investcorp. "These assets' high occupancies and tenant diversification help position the portfolio for what we believe to be durable performance in both the near and long term."

Market Conditions

Investcorp cited moderating new supply and improving tenant demand as conditions supporting the transaction. The firm noted that vacancy in the four target markets has decreased from late 2025 levels as construction activity has slowed and occupiers have remained focused on efficiently located facilities.

"U.S. industrial fundamentals remain durable and are supported by long-term demand drivers such as e-commerce, nearshoring and domestic manufacturing," said Herb Myers, Global Head of Real Assets at Investcorp. "Additionally, new supply remains highly constrained in these logistics markets, creating favorable demand dynamics."

Part of a Broader Industrial Strategy

The acquisition is the latest in a series of industrial transactions for Investcorp's Private Wealth platform. The firm said it has acquired approximately $900 million and more than 6.6 million square feet of industrial assets over approximately the last 14 months across 13 U.S. markets.

Industrial and residential assets together comprise approximately 99% of Investcorp's U.S. real estate portfolio, according to the firm. Real Capital Analytics has ranked Investcorp among the top five largest cross-border buyers of U.S. real estate for each of the past five years, and the firm's real assets team ranked No. 42 on PERE's 2025 PERE 100 list.

At a portfolio size of roughly 1.4 million square feet and a deal value exceeding $200 million, the implied price is approximately $143 per square foot.