Bahrain’s Arcapita buys logistics park in Dubai for $100 million

Arcapita, the Bahrain-based investment management firm, says it has acquired nine freehold plots of land in Dubai's Al Quoz Industrial Area for a total transaction value of approximately $100 million. 

The logistics park covers an area of around 630,000 square feet and will consist of 10 completed warehousing facilities by the third quarter of this year. The warehousing facilities will fall under a long-term master lease with a UAE conglomerate, said Arcapita in a statement, without naming any company. 

Arcapita has managed over $8.1 billion in transactions across the global logistics market, including in the U.S., Europe, Asia and the GCC, according to CEO Atif A. Abdulmalik.

The firm recently exited a $360 million fund, the ARC Real Estate Income Fund 1, which was focused on investing in the UAE and Saudi Arabia's logistics and warehousing market. 

In January, the firm acquired a privately-held portfolio of senior living communities in Colorado, United States, for $85 million and the firm's current portfolio consists of three assisted living and memory care communities in Denver and Colorado Springs in the U.S.

Arcapita completed a $100 million fundraising in November, 2014, a little over a year after emerging from Chapter 11 bankruptcy. 

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