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FinancialNews
12-04-21
Bahrain’s Arcapita purchases Texan distribution facility used by FedEx
(MENAFN)Bahrain-based investment firm Arcapita Group Holdings declared that it had purchased a Texan distribution facility used by FedEx, totaling the amount of its US industrial real estate portfolio to more than USD200 million.
The recent acquisition of the Cedardale Distribution Center in Dallas brings to 16 the number of industrial facilities it has purchased in Cleveland, Ohio and Indianapolis, Indiana.
The center was established in 2018 and is situated in Dallas-Fort Worth, America’s fourth-largest metropolitan area, with a population of more than 7.5 million people. It serves as a very important component in FedEx’s distribution network in the southern US.
Brian Hebb, head of US Real Estate at Arcapita stated that “The logistics sector is a key focus area for Arcapita. We have recently completed several acquisitions in the sector and as part of our broader strategy; we are focused on acquiring highly functional properties leased to investment grade tenants on a 10-15-year basis. We look forward to working with our partners to acquire additional assets in the months to come.”
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