Investcorp acquires $420M multifamily portfolio
Investcorp, a leading global provider and manager of alternative investment products, today announced that an Investcorp fund has acquired five new US multifamily properties across Arizona, Texas and Georgia.
The portfolio acquired by the fund includes 2,228 rental units, for an all-in value of approximately $420 million.
The acquisition is the latest in a number of Investcorp transactions in the US residential space this year. It has completed over $1 billion in multifamily acquisitions and $1.3 billion in residential sales, including multifamily and student housing, over the last 10 months.
While Investcorp narrowed its strategic focus to residential and industrial property types in 2014, this year’s momentum is partially due to the opportunities that emerged from the changing real estate dynamics resulting from the Covid-19 pandemic. Today, Investcorp’s current…