29 May 2025
Investcorp, a leading global alternative investment firm, today announced that it has completed the sale of 12 multifamily assets across five states – including the full liquidation of a multifamily portfolio – at an aggregate price of ~$550 million. Despite a tempered multifamily market, Investcorp was able to exit the assets at a premium, reflecting the strength of the underlying properties as well as the firm’s ability to deftly navigate challenging investment environments. The dispositions were executed in a series of transactions beginning in 2024.
Michael O’Brien, Global Co-Head of Real Assets for Investcorp, said, “Though rent growth has cooled from the highs we saw in recent years, the long-term fundamentals supporting the multifamily sector remain compelling. These dispositions reflect the confidence investors continue to have in the asset class, as well as the strength of our investment strategy and our ability to leverage operational expertise to create value. Demand for rental housing continues to rise, and we believe there remains opportunity for investment in markets with diverse employment bases and attractive population growth – especially with new supply likely to be softened by increasing construction costs over the coming years.”
The assets are 94% occupied on average and are situated in desirable rental markets including Atlanta; Philadelphia; Raleigh, North Carolina; and St. Louis, Missouri, as well as Tampa and Orlando in Florida. Most recently, the team completed the liquidation process with the sale of a 432-unit garden-style apartment community in Atlanta at the end of February 2025.
Jim Keary, Managing Director, Head of Residential Asset Management at Investcorp who led the transactions, said, “These properties are located in some of the strongest multifamily markets in the country, which we expect will continue to exhibit high demand for rental housing in the coming years. Reaching successful realizations is a significant accomplishment – we will continue to evaluate properties across our target markets, investing in those that present opportunities for us to create value through property improvements and operational efficiencies.”
Investcorp is among the top-5 largest cross-border buyers of US real estate over the past five years, according to Real Capital Analytics. 98% of the firm’s portfolio consist of industrial or residential properties.
In 2024, the Investcorp real estate team placed at number 51 on PERE’s PERE 100, one of the most prominent rankings of real estate equity investment managers in the industry. Since 1996, Investcorp has acquired approximately 1,500 properties for a total value of approximately $27 billion.