February 13, 2019
Bahrain-based alternative investment manager Investcorp’s U.S.-based real estate investment team acquired eight new multifamily properties. The 2,510-unit portfolio was purchased for $330 million. The properties span the submarkets of five rapidly growing metro areas across the Southeast and Southwest regions: Raleigh, NC, Atlanta, Jacksonville, Phoenix and Dallas.
Investcorp’s Rishi Kapoor says, “The acquisition of this multifamily portfolio builds on our strong successes in the U.S. and European real estate markets, and demonstrates the important role we see our real estate investment business playing in our overall investment strategy for 2019. Looking ahead, the U.S. remains a priority market for us as we continue to see investment opportunities aligned with our objective of securing strong in-place cash flows and value-add opportunities.”
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.
For comments, questions or concerns, please contact Dennis Kaiser