Doha: Investcorp, a leading manager of alternative investments, announced that its US-based Real Estate Investment team acquired six new multi-family properties, totaling 2,876 units for a combined purchase price of $311m. The properties are located in major submarkets of three rapidly growing metro areas: Tampa, Florida; Houston, Texas; and Salt Lake City, Utah.
Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp, said: “Investcorp continues to witness strong levels of activity in the US real estate investment, which is a testament of our strong commitment to this market and asset class.”
The properties in the portfolio are all “garden style” apartment communities. They include two properties in Tampa, Florida comprising 1,231 units; three properties in Houston, Texas comprising 1,392 units; and one property in Salt Lake City, Utah comprising 253 units.
Babak Sultani, Managing Director, Real Estate Product Specialist at Investcorp, added: “As one of the long standing and most active foreign investors in U.S. real estate, we have built the required depth and experience to identify attractive investment opportunities like this one.” With the addition of these properties, Investcorp now owns approximately 13,000 multifamily units across the US In the last 12 months,
