Alternative investment firm Investcorp has invested $492 million in four individual rental apartment communities with 1,573 units and a student housing complex for $286 million, the company said in a statement on its website. In addition, the Manama-listed company invested in four industrial portfolios comprising 2.7 million square feet and over 40 buildings for in a $206 million deal.

“These investments are a continuation of our real estate investment strategy and our commitment to growing our US real estate portfolio. Investcorp has been a leader in this market since we entered over 20 years ago, and it remains a key part of our long-term strategy,” said Mohammed Al Shroogi, Investcorp’s Co-Chief Executive, according to The National.

The firm has invested in US real estate as part of its diversification strategy with its US real estate arm invested in two office buildings in New York City for $156 million last November,  and in September it invested $350 million in six multi-family properties in Florida and Arizona.

As part of a strategy to boost its assets under management in the coming years through acquisitions and organic growth, the Bahrain-based investment firm is expanding its client coverage and its product lines. In March the company acquired a minority stake in US-based strategic communications and advisory firm ICR for an undisclosed sum, and in April it acquired US autobody part supplier, KSI Trading Corp.

 

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