Bahrain’s Investcorp acquires $370mln real estate assets in US

Mubasher: Bahrain-based Investcorp, in partnership with a subsidiary of Philadelphia-based Equus Capital Partners, has acquired 11 new US multifamily properties with a combined value near $370 million.

Madison Apartment Group, Equus’ management affiliate, will act as on-site property manager for the newly-acquired portfolio, the Bahraini private equity firm said in a statement on Monday.

“As one of the most active investors in U.S. multifamily real estate, our real estate investment business continues to be an important driver of our ambitious long-term global growth strategy on the path to $50 billion in assets under management (AUM),” Mohammed Alardhi, Investcorp’s executive chairman stated.

This transaction represents Investcorp’s largest acquisition in the US real estate portfolio over the past ten years.

“Each property offers strong existing occupancy levels and we believe also offers the opportunity for value-add renovations,” principal in Real Estate Investment at Investcorp Michael Moriarty said.

The 11 properties in this portfolio are located in six major metro areas across five states including Orlando, Florida; Tampa, Florida; Raleigh, North Carolina; Atlanta, Georgia; Philadelphia, Pennsylvania; and, St. Louis, Missouri.

Equus Capital Partners is a major private equity real estate fund managers with various investments office, multi-family, industrial, and retail properties across the US.

All Rights Reserved – Mubasher Info © 2005 – 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

Source Article

Leave a Reply

Your email address will not be published. Required fields are marked *