Bahrain's Investcorp inks $286m deals for US residential property

The company has also invested in four industrial portfolios worth $206m
The communities include a 660-unit property in Atlanta, a 408-unit property in Chicago, and two properties with a total of 505 units in Dallas.
By Bernd Debusmann Jr
Tue 29 May 2018 09:39 AM

Bahrain’s Investcorp has invested in four US residential apartment complexes and a student housing facility for a total purchase price of $286 million, the company announced on Monday.

The communities include a 660-unit property in Atlanta, a 408-unit property in Chicago, and two properties with a total of 505 units in Dallas.

The student housing property, located in Orlando, has over 800 bedrooms.

Additionally, Investcorp invested in four industrial portfolios, comprising 2.7 million square feet and over 40 buildings for a total purchase price of approximately $206 million.

The four portfolios comprise nine buildings totalling 552,370 sq. ft. in Phoenix, Arizona, 11 buildings totalling 833,193 sq.ft. in Minneapolis, Minnesota, 7 buildings totalling 440,013 sq.ft. in Austin, Texas and 15 buildings totalling 876,955 sq.ft. in Chicago.

“These investments are a continuation of our real estate investment strategy and our commitment to growing our U.S. real estate portfolio,” said Investcorp Co-CEO Mohammed Al Shroogi. “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.”

For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Last Updated: Tue 29 May 2018 09:53 AM GST

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.