Bahrain: Investcorp, a leading global provider and manager of alternative investment products, today announced that its U.S.-based Real Estate Investment team acquired eight new multifamily properties. The portfolio includes 2,510 units for a total purchase price of $330 million. The properties span the submarkets of five rapidly growing metro areas across the Southeast and Southwest states: North Carolina, Georgia, Florida, Arizona and Texas.
“Since inception, Investcorp has been one of the most active foreign investors in U.S. real estate. These acquisitions are consistent with the Firm’s strategy to invest in high-quality properties with a promising outlook in key U.S. cities,” said Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp. “We are bullish on the U.S. property market and are eager to scope out more opportunities like these in the coming period, to build on our successful track record to date.”
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.
Timothy Mattar, Head of Placement & Relationship Management at Investcorp, said: “The U.S. real estate sector remains an attractive market for Investcorp and a highly demanded asset class for clients looking for more predictable cash flow. The acquisition of these eight properties builds on the period of strong activity for our real estate team.”
Investcorp’s New York-based real estate team is an active investor in U.S. commercial and residential real estate equity and high-yield debt. Since 1996, Investcorp has acquired more than 550 properties for a total value of more than $15 billion. Across the U.S., Investcorp targets existing logistics, multifamily and office properties located primarily in the largest 40 metropolitan areas with a focus on mid-market core and core-plus investment opportunities.
Investcorp is a leading global manager of alternative investments. Led by a new vision, Investcorp has embarked on an ambitious, albeit prudent, growth strategy. The Firm continues to focus on generating value through a disciplined investment approach in four lines of business: private equity, real estate, absolute return investments and credit management.
As at December 31, 2018, the Investcorp Group had US$ 22.5 billion in total AUM, including assets managed by third party managers and assets subject to a non-discretionary advisory mandate where Investcorp receives fees calculated on the basis of AUM.
Since its inception in 1982, Investcorp has made over 185 Private Equity deals in the U.S., Europe, the Middle East and North Africa region and Asia, across a range of sectors including retail and consumer products, technology, business services and industrials, and more than 600 commercial and residential real estate investments in the US and Europe, for in excess of US $59 billion in transaction value.
Investcorp employs approximately 400 people across its offices in Bahrain, New York, London, Abu Dhabi, Riyadh, Doha, Mumbai and Singapore. For further information, including our most recent periodic financial statements, which details our assets under management, please visit:
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© Press Release 2019