Investcorp, a global provider and manager of alternative investment products, today announced that its US-based Real Estate Investment team acquired eight new multifamily properties.
The portfolio includes 2,510 units for a total purchase price of $330 million. The properties span the submarkets of five rapidly growing metro areas across the Southeast and Southwest states: North Carolina, Georgia, Florida, Arizona and Texas.
“Since inception, Investcorp has been one of the most active foreign investors in 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,” said Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp.
“We are bullish on the US property market and are eager to scope out more opportunities like these in the coming period, to build on our successful track record to date.”
“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 & Relationship Management at Investcorp, said.
Since 1996, Investcorp has acquired more than 550 properties for a total value of more than $15 billion. Across the US, Investcorp targets existing logistics, multifamily and office properties located primarily in the largest 40 metropolitan areas with a focus on mid-market core and core-plus investment opportunities.
This article provided by NewsEdge.