March 24, 2016 Comments Off on Investcorp Spends $114M on Two MF Assets Views: 495 California News, Midwest, Minnesota, National News

Investcorp Spends $114M on Two MF Assets

Investcorp’s U.S.-based real estate arm acquired multifamily properties in Minnesota in two separate deals. The New York City-based Investcorp and its partner, Chicago-based Redwood Capital Group, reportedly spent a total of $114.8 million on the 534-unit Hampshire Hill Apartments and the 320-unit Southwind Village.

Hampshire Hill, at 10660 Hampshire Ave. South in Bloomington, was sold by a private investor. Virtu Investments of San Francisco sold Southwind, located at 15001 Greenhaven Dr. in Burnsville. The average occupancy rate of both assets is 95%.

Keith Collins, Abe Appert, and Laura Hanneman of CBRE’s Minneapolis office represented the sellers in both deals.

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