Investcorp, a leading global provider and manager of alternative investment products, yesterday announced that it acquired 11 new US multifamily properties. The portfolio totals 2,615 units for a combined purchase price of approximately $370m. The acquisition marks Investcorp’s largest US real estate portfolio acquisition completed in the past decade.
“This diversified acquisition marks a very exciting milestone for our real estate investment team as this is the largest real estate portfolio we have acquired in the US market in more than 10 years,” said Mohammed Alardhi (pictured), Executive Chairman of Investcorp.
“As one of the most active investors in US multifamily 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 $50bn in AUM.” The 11 properties in this portfolio are located in major US metro areas in which Investcorp made previous acquisitions. The properties are located in six major metro areas across five states including Orlando, Florida; Tampa, Florida; Raleigh, North Carolina; Atlanta, Georgia; Philadelphia, Pennsylvania; and, St. Louis, Missouri.
