Bahrain's Investcorp in $200m US property deals

Investment firm acquires five office buildings in Washington DC, Houston and Denver

Bahrain-based alternative investments manager Investcorp said it has acquired five US office properties valued at $200m.

The developments, which exceed more than 1m sq ft, are located in the Washington DC, Denver and Houston metropolitan areas and have a combined occupancy rate of more than 94 percent.

Investcorp said the purchases tie in with its strategy of purchasing high quality, stable assets in markets with economic growth and low unemployment.

“Investcorp’s strategy is to acquire high quality, high occupancy assets in prime locations underpinned by an attractive industry base,” said Mohammed Al-Shroogi, president for Gulf business at the firm.

“This new acquisition fulfils these requirements, expands our real estate portfolio and gives us the opportunity to generate cash flows in dynamic commercial markets.

Investcorp said the properties are well-located to capitalise on growth in sectors including energy, healthcare, technology and education.

The properties are: Tysons Commerce Centre, a 181,000 sqft office development in the Washington DC metropolitan area; Westmoor Place, a 428,000 sqft property in Denver containing three offices that include major technology and healthcare tenants; and One Westchase Centre, a 466,000 sqft development on the outskirts of Houston, Texas.

As of December 31, Bahrain bourse-listed Investcorp had $11.5bn in assets under management.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Is Africa's investment dream still on track?

Is Africa's investment dream still on track?

It was the new bright spot for global investors, but widespread...

Deal-making to drive 2017 Middle Eastern banking fee bonanza

Deal-making to drive 2017 Middle Eastern banking fee bonanza

Fees from the Middle East reached $581m during the first nine...

Accounting meets religion in challenge for Islamic banks

Accounting meets religion in challenge for Islamic banks

Reconciling accounting standards and religious principles is...

Most Discussed
  • 17
    Countdown to VAT: are Gulf businesses ready?

    I feel with VAT in place from 2018, retailers, SMEs will figure out ways of Tax-evasion as it happens in most of the developing economies unless authorities... more

    Tuesday, 14 February 2017 1:10 PM - Diya Pardasani
  • 14
    Dubai likely to lose 'shopper's paradise' status: S&P

    It's no longer a shoppers paradise. Maybe for the ignorant few but with the availability of the internet to compare prices worldwide one doesn't need to... more

    Monday, 20 February 2017 1:25 PM - Syed
  • 10
    Dubai real estate: which way will it go?

    well the mortgage rates are going to go up even more as the US will increase rates so the central bank here will also have to increase proportionately... more

    Wednesday, 15 February 2017 1:28 PM - Bill
sponsoredTracking