Investcorp buys 11 US properties for $370m

BAHRAIN / WAM

Investcorp announced that it acquired 11 new US multifamily properties. The portfolio totals 2,615 units for a combined purchase price of approximately $370 million. The acquisition marks Investcorp’s largest US real estate portfolio acquisition co- mpleted in the past decade.
“This diversified acquisition marks very exciting milestone for our real estate investment team as this is the largest real estate portfolio we have acquired in US market in over 10 years,” said Mohammed Alar- dhi, Executive Chairman of Investcorp. “As one of the most active investors in US multifamily real estate, our realty investment business continues to be an important driver of our ambitious long-term global growth strategy on the path to $50 billion in AUM.”