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Bahrain’s Arcapita buys FedEx distribution center in Texas

April 12, 2021
finance & economy

DUBAI: Bahrain-based investment firm Arcapita Group Holdings on Sunday announced it had bought a Texan distribution facility used by FedEx, bringing the total value of its US industrial real estate portfolio to over $200 million.

The latest acquisition of the Cedardale Distribution Center in Dallas brings to 16 the number of industrial facilities it has bought in Cleveland, Ohio and Indianapolis, Indiana.

The center was built in 2018 and is located in Dallas-Fort Worth, America’s fourth-largest metropolitan area, with a population of over 7.5 million people. It serves as a vital cog in FedEx’s distribution network in the southern US.

“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,” Brian Hebb, head of US Real Estate at Arcapita, said in a press statement.

Martin Tan, CEO of Arcapita, said the latest acquisition was part of the company’s investment in the fast-growing e-commerce sector and the necessary supply chain to service it. Arcapita has offices in Atlanta, London and Singapore and an affiliated office in Bahrain. Over the last 24 years, it has recorded over 90 investments with a total transaction value in excess of $30 billion.