Bahrain – Investcorp, a leading global provider and manager of alternative investment products, today announced the sale of a portfolio of multifamily properties located in Raleigh, North Carolina to TruAmerica Multifamily for a combined total of approximately $109 million. Investcorp purchased the 830-unit portfolio in 2016 and completed a number of value-add upgrades to the properties, consistent with the Firm’s strategy to target attractive, strong cash-flow generating assets with opportunities for further capital appreciation.
“This transaction underscores our ability to successfully execute on our investment thesis as we added significant value to these strategically located properties over a three-year period, completing a number of renovations while also benefitting from the Raleigh market’s continued growth,” said Babak Sultani, Managing Director in Real Estate Investment at Investcorp. “We look forward to continuing to build upon our track record in the multifamily space.”
According to Real Capital Analytics, Investcorp ranks as a top 10 international investor in U.S. real estate over the past five years and is one of the top 50 overall investors in U.S. real estate during the same period.
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 six lines of business: private equity, real estate, absolute return investments, infrastructure, credit management, and strategic capital.
As at June 30, 2019, the Investcorp Group had $28.2 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 650 commercial and residential real estate investments in the US and Europe, for in excess of $60 billion in transaction value.
Investcorp employs approximately 427 people across its offices in New York, London, Bahrain, 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:
© Press Release 2019