Investcorp acquires five suburban multifamily properties for approximately US $330 million

Enhances US multifamily presence with addition of 96% occupied portfolio, comprising 1,854 units in key suburban markets

  

BahrainInvestcorp, a leading global provider and manager of alternative investment products, today announced that it has acquired a portfolio of five, 96% occupied multifamily residential properties comprising 1,854 units across three key US suburban markets for approximately US $330 million.

This latest acquisition expands Investcorp’s robust footprint in US multifamily real estate, where it has been one of the most active international buyers and sellers, including having recently sold more than $1 billion in US multifamily real estate assets.

In 2014, Investcorp narrowed its strategic focus to target what it believes to be the most resilient sectors of real estate, multifamily and industrial, which currently represent 90% of the Firm’s US real estate portfolio. Following this transaction, Investcorp’s US multifamily real estate portfolio comprises more than 14,000 units across approximately 40 properties.

“We are excited to further enhance our significant multifamily real estate footprint in the US with these stable, highly-occupied properties in key suburban areas,” said Khulood Ebrahim, Real Estate Product Specialist at Investcorp. “Our latest acquisitions are consistent with our defined investment approach and build upon our long history of investing in US multifamily real estate.”

The five Class B, garden-style “for rent” apartment properties Investcorp acquired are located in suburban residential areas of Atlanta, Georgia; Baltimore, Maryland; and Jacksonville, Florida. The properties feature a variety of amenities, including swimming pools, fitness centers, clubhouses and 24-hour controlled access entry, among others, and are in desirable neighborhoods with a high quality of life and close proximity to major transportation and employment hubs.

“Amid increasing demand for US multifamily properties, we are actively seeking out opportunities that align with our strategic approach,” said Yusef Al Yusef, Managing Partner of Investcorp’s Private Wealth Platform. “We remain focused on delivering long-term value through the acquisition of highly-leased, cash flow generating assets underpinned by solid economic fundamentals.”

Since 1996, Investcorp has acquired more than 800 properties with a combined value of approximately US $20 billion. Investcorp’s Real Estate team is comprised of more than 30 investment professionals and its senior leadership team has an average of more than 25 years of industry experience.

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