Bahrain’s Investcorp unit buys multifamily properties in U.S. for $330 mln

Bahrain-based alternative investment products manager Investcorp’s U.S.-based Real Estate Investment team has bought eight new multifamily properties consisting of 2,510 units, for a total acquisition price of $330 million.

The acquired properties are situated in areas including Raleigh, North Carolina; Atlanta, Georgia; Jacksonville, Florida; Phoenix, Arizona and Dallas, Texas.
 
Investcorp said that the purchase of this multifamily portfolio builds on its strong successes in the U.S. and European real estate markets, and demonstrates the important role its real estate investment business is playing in the company’s overall investment strategy for 2019.

All the acquired properties within the 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.