Investcorp has acquired a portfolio of five Class B multifamily properties with 1,854 units in three key suburban markets—Atlanta, Baltimore, and Jacksonville, Florida—for approximately $330 million.
This latest acquisition expands Investcorp’s multifamily footprint in the U.S., where it has been one of the most active international buyers and sellers, including its recent sale of more than $1 billion in multifamily real estate assets.
In 2014, the global firm, headquartered in Manama, Bahrain, narrowed its focus on what it believes to be the most resilient sectors of real estate—multifamily and industrial, which currently represent 90% of its U.S. real estate portfolio. With this acquisition, its U.S. multifamily real estate portfolio includes more than 14,000 units across approximately 40 properties.
“We are excited to further enhance our significant multifamily real estate footprint in the U.S. with these stable, highly occupied properties in key suburban areas,” said Khulood Ebrahim, real estate product specialist at Investcorp. “Our latest acquisitions are consistent with our defined investment approach and build upon our long history of investing in U.S. multifamily real estate.”
The five Class B, garden-style apartment properties acquired are 96% occupied and in suburban residential neighborhoods located near major transportation and employment hubs. Amenities include swimming pools, fitness centers, clubhouses, and 24-hour controlled access entry.
“These latest acquisitions support our strong conviction in the U.S. multifamily sector, and align with our strategy of acquiring stable, highly occupied properties in key markets with the potential for growth,” said Mohamed Al Sada, head of Bahrain and Kuwait for Investcorp’s Private Wealth.
Since 1996, the firm has acquired more than 800 properties with a combined value of approximately $20 billion.
