|24 February, 2020

Bahrain's Investcorp expands US real estate portfolio with $164mln acquisitions

Multifamily property portfolios currently represent the largest part of Investcorp's global real estate platform

A front view of Investcorp headquarter. Image used for illustrative purpose.

A front view of Investcorp headquarter. Image used for illustrative purpose.

MANAMA - Investcorp, a Bahrain-based asset manager which counts Mubadala Investment Company as its biggest shareholder, today announced that its US-based real estate team has acquired two residential properties in South Florida for approximately US$164 million.

The acquisition further strengthens Investcorp’s US multifamily real estate portfolio and follows a highly active period of investment in multifamily properties after the Firm ranked as the second largest international acquirer of US multifamily properties in calendar year 2019, according to Real Capital Analytics.

"Over the last several years, we have been actively building our US multifamily real estate portfolio by targeting properties in strategic locations that enable us to capitalise on the secular trend toward renting rather than home ownership," said Yusef Al Yusef, Head of Gulf Institutional Clients Group at Investcorp. "The purchase of these properties in the attractive South Florida market aligns with our defined investment strategy of targeting strong cash flow generating assets that we believe are positioned to generate consistent returns while providing upside potential."

Multifamily property portfolios currently represent the largest part of Investcorp’s global real estate platform, with an approximate value of $2.3 billion.

Investcorp’s multifamily portfolios span across 15 markets totaling 18 properties and more than 14,000 units. Since inception, the value of Investcorp’s real estate investments have totaled over $18 billion across more than 800 properties.

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