Investcorp expands US property portfolio with $311m deal

Investcorp expands US property portfolio with $311m deal

Published at: 2018-11-29 16:21 | Author: CIJ USA
Investcorp acquired a 2,876-unit apartment portfolio for $311m. The schemes are located in major submarkets of three rapidly growing metro areas in Florida, Texas and Utah. The deal includes two properties in Tampa, Florida, totaling 1,231 units, three properties in Houston, Texas, totaling 1,392 units and one 253-unit asset in Salt Lake City, Utah. Investcorp now owns approximately 13,000 multifamily units across the US.

“The U.S. multifamily sector continues to present attractive opportunities, and we are pleased to announce the addition of these six properties to our US real estate portfolio,” said Rishi Kapoor, co-CEO of Investcorp. "These investments underscore our commitment to increasing Investcorp’s footprint in the US market, a key driver of the firm’s overall growth strategy and a market on which we will be incredibly focused in 2019.”

Similar Stories:

Brookdale Senior Living secures $327m in financing
Berkadia has secured $327m in fixed- and variable-rate financing for Brookdale Senior Livi  »
Beachwold Residential acquires Hibiscus Springs Rental Homes for $60m
Beachwold Residential acquired the 470-unit Hibiscus Springs Rental Homes in Spring Hill,  »
River Pointe Apartments sells for $19.3m in Tampa
Coastline Management Group bought River Pointe Apartments, a class B community in Tampa, F  »
Redwood Capital Group buys Ancora Apartments in Orlando for $65m
Redwood Capital Group acquired Ancora Apartments in Orlando’s Lake Bryan submarket from  »
Hurricane Hermine had the entire state of Florida on the edge of its seat in September. It   »
South Florida’s condo market is readying for a soft landing rather than the crash that m   »
There are approximately 17,000 units in Miami in presale, sold or under construction. Abou   »
The same year Orange County builders pulled 11,000. Fast forward to 2010 and those numbers   »