June 11, 2019
Bahrain-based Investcorp, with U.S. headquarters in New York City, acquired a portfolio of 11 apartment properties from Equus Capital Partners for $370 million. The 2,615-unit deal represents Investcorp’s largest U.S. real estate portfolio acquisition completed in the past decade.
“As one of the most active investors in U.S. multifamily real estate, our real estate investment business continues to be an important driver of our ambitious long-term global growth strategy on the path to $50 billion in AUM,” said Mohammed Alardhi, Investcorp’s executive chairman.
The 11 properties are located in six major metro areas across five states, including Orlando, Tampa, Raleigh, Atlanta, Philadelphia and St. Louis.
Equus’ management affiliate, Madison Apartment Group, will also serve as the on-site property manager for the portfolio, which is 94% leased. Based in Newtown Square, PA, Equus acquired the properties between 2013 and 2015, and spent a total of $20 million on upgrades.
Pictured: Mohammed Alardhi
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