Investcorp has announced that the US-based real estate investment team has purchased eight new multi-family properties across the country. The total sales price of the properties is $ 330 million.
The property portfolio includes 2,510 units. The assets are located in North Carolina, Georgia, Florida, Arizona and Texas. The portfolio are garden stylee Class B apartment communities in locations.
Hazem Ben-Gacem, the co-chief executive officer of Investcorp, said: “Since inception, Investcorp has been one of the most active foreign investors in US real estate. These acquisitions are consistent with the firm’s strategy to invest in high quality properties with a promising outlook in key US cities.”
He added that we are bullish on the US property market and are eager to scope out more opportunities like these in the coming period, to build on our succesful track record to date.
“The US real estate sector remains an attractive market for Investcorp and a highly demanded asset class for clients looking for more predictable cash flow,” said, the head of placement and relationship management at Investcorp, Timothy Mattar.
Founded in 1982 Investcorp is a world leading manager of alternative investments for select individuals and institutions. It has built a global reputation for superior performance, innovation and client service.
Source: Trade Arabia
Fulya Altunyay/ [email protected]