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Wed 14 Oct 2015 02:06 PM

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Bahrain's Investcorp buys US properties for $400m

Investment firm acquires properties in metropolitan areas of Las Vegas, Denver, Chicago, Atlanta and Dallas

Bahrain's Investcorp buys US properties for $400m

Bahrain's Investcorp, has bought eight residential properties in the United States for about $400 million through its US unit, the investment bank said on Wednesday.

Investcorp acquired properties in the metropolitan areas of Las Vegas, Denver, Chicago, Atlanta and Dallas, it said in a statement.

These latest purchases take Investcorp's total real estate investments over the past 12 months to more than $1 billion, the statement said.

The acquired properties are rented out to tenants and have an average occupancy rate of about 96 percent. Investcorp bought them "through joint ventures with several local and regional operating partners", the statement said.

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