News

Investcorp adds to US property portfolio

Multifamily propertiesBahrain-based alternative investment manager Investcorp has spent $370 million to acquire 11 new US multifamily properties. The properties are located in six major metro areas across five states (Florida, North Carolina, Georgia, Pennsylvania and Missouri) and in areas where Investcorp has made previous investments. Investcorp executive chairman Mohammed Alardhi said that the acquisition is the biggest real estate investment in the US market that the firm has made in more than 10 years.  The company has acquired more than 600 properties with a combined value of $16 billion since 1996 and is ranked as a top ten investor in US property according to Real Capital Analytics. "As one of the most active investors in US multi-family real estate, our real estate investment business continues to be an important driver of our ambitious long-term global growth strategy on the path to $50 billion in AuM," said Alardhi. Meanwhile, Michael Moriaty, principal in real estate investment at Investcorp, said that US property is “a well-performing, highly liquid asset class that draws upon the current strength of the overall US economy and labour market”. ©2019 funds global mena

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