The acquisition marks Investcorp’s largest US real estate portfolio acquisition completed in the past decade.
Tuesday 11, June 2019 BY KUDAKWASHE MUZORIWA
Bahrain-based Investcorp Bank has acquired 11 new US multifamily properties for approximately $370 million.
Investcorp stated that it has partnered with Philadelphia-based Equus Capital Partners in this transaction and Madison Apartment Group will serve as the on-site property manager for the portfolio.
Mohammed Alardhi, the Executive Chairman of Investcorp, said, “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 ten years.”
In a statement, Investcorp said that the 11 properties in this portfolio are located in six major US metro areas across five states including Orlando Tampa, Raleigh as well as Atlanta, Philadelphia and St. Louis in Missouri.