Bahrain’s Investcorp has acquired a portfolio of five multifamily residential properties comprising 1,854 units across three key US suburban markets for about $330 million.
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…12 | the publication reaches you by | Bahrain News
“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 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.
“Multifamily real estate is one of our highest conviction global investment themes in today’s landscape. We believe these acquisitions offer attractive opportunities with stable cash yields in place, and additional upside potential,” said Tarek AlMahjoub, Head of UAE and Oman for Investcorp’s Private Wealth.
Since 1996, Investcorp has acquired more than 800 properties with a combined value of approximately $20 billion.
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