Bahrain’s Investcorp picks up residential properties in US for $330m

      Published on Friday, 29 January , 2021      752      
Bahrain’s Investcorp picks up residential properties in US for $330m

  • Bahrain News

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.

This latest acquisition expands Investcorp’s robust footprint in US multifamily real estate.

“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 five Class B, garden-style “for rent” apartment properties Investcorp acquired are located in suburban residential areas of Atlanta, Georgia; Baltimore, Maryland; and Jacksonville, Florida.

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.

Category Bahrain News, Business | 2021/01/29 latest update at 5:00 PM
Source : Gulf News | Photocredit : Google
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