Investcorp acquires 8 US properties for $330m

Investcorp acquires 8 US properties for $330m
The properties span the submarkets of five rapidly growing metro areas across the Southeast and Southwest states

Mubasher: Investcorp, a leading provider and manager of alternative investment products, on Tuesday announced that its US-based Real Estate Investment team has acquired eight new multifamily properties with 2,510 units.

The transaction’s total cost amounted to $330 million, the Bahrain-based private equity firm said in a statement.

The properties span the submarkets of five rapidly growing metro areas across the Southeast and Southwest states, namely North Carolina, Georgia, Florida, Arizona and Texas.

“Since inception, Investcorp has been one of the most active foreign investors in the US real estate. These acquisitions are consistent with the Firm’s strategy to invest in high-quality properties with a promising outlook in key US cities,” Hazem Ben-Gacem, co-chief executive officer of Investcorp, commented.

All the properties within this portfolio are “garden style” Class B apartment communities in locations where Investcorp has demonstrated an ability to create value and believes there are strong market dynamics.

“The US real estate sector remains an attractive market for Investcorp and a highly demanded asset class for clients looking for more predictable cash flow. The acquisition of these eight properties builds on the period of strong activity for our real estate team,” Timothy Mattar, head of placement and relationship management at Investcorp, said.