RIYADH: Bahrain-based Arcapita Group Holdings has joined with US firm Arden Group to acquire $2 billion of warehouse space across America, according to a statement. The deal will see the companies buy up industrial properties in urban centers, with the value of the initial portfolio coming in at over $550 million. An additional $250 million of properties will be bought in the near future. Atif Abdulmalik, Arcapita’s Chief Executive Officer said: “This joint venture is part of our broader industrial real estate strategy, having completed roughly $5.5 billion in industrial and logistics real estate transactions globally for nearly twenty years." Craig Spencer, Chairman and CEO of Arden Group, added: “This niche industrial sector has been a thematic investment strategy for Arden and continues to provide attractive cash yields."