Investcorp, a leading global provider and manager of alternative investment products, has announced the sale of a portfolio of US multifamily properties located at Raleigh in North Carolina (US) to TruAmerica Multifamily for $109 million.
The Bahrain-based group had 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, said top official.
"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," remarked Babak Sultani, the managing director in Real Estate Investment at Investcorp.
“We look forward to continuing to build upon our track record in the multifamily space,” he added.
According to Real Capital Analytics, Investcorp ranks as a top 10 international investor in US real estate over the past five years and is one of the top 50 overall investors in US real estate during the same period.
A major global player, Investcorp 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 of June 30, 2019, the Investcorp Group had $28.2 billion in total AUM (assets under management).-TradeArabia News Service
Copyright 2019 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
