24 May 2018
Bahrain, May 24, 2018 – Investcorp, a leading provider and manager of alternative investment products, announced that its U.S. based real estate arm invested in four individual rental apartment communities with 1,573 units and a student housing complex for a total purchase price of approximately $286 million.
The rental communities include Overlook at Berkeley Lake, a 660-unit property in Atlanta, Georgia; Brook Hill a 408-unit property in Chicago, Illinois; Bel Air Willow Bend, a 229-unit property and Bel Air Keystone Ranch, a 276-unit property, both located in Dallas, Texas. The student housing property is Mercury 3100 with over 800 bedrooms located in Orlando, Florida.
In addition, Investcorp invested in four industrials portfolios comprising 2.7 million sq. ft. and over 40 buildings for a total purchase price of approximately $206 million. The four portfolios comprise 9 buildings totaling 552, 370 sq. ft. in Phoenix, Arizona; 11 buildings totaling 833,193 sq. ft. in Minneapolis, Minnesota; 7 buildings totaling 440,013 sq. ft. in Austin; Texas and 15 buildings totaling 876,955 sq. ft. in Chicago, Illinois.
Mohammed Al Shroogi, Co-CEO at Investcorp, said: “These investments are a continuation of our real estate investment strategy and our commitment to growing our U.S. real estate portfolio. Investcorp has been a leader in this market since we entered over 20 years ago, and it remains a key part of our long-term strategy.”