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Investcorp Bank buys new properties, completes $13bn investments in U.S.

Staff writer |
Investcorp has bought five residential properties in the US states of Florida and Minnesota for about $220 million as the Bahrain-listed investment firm expands in the U.S.

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The acquisitions, which are part of the company's strategy to invest in high-yield real estate assets, include three student housing properties in Boca Raton, Florida and residential properties in Minneapolis, Minnesota, the company said.

"All of these acquisitions are in major metropolitan US cities and are aligned with Invest corp's strategy of targeting quality properties with high occu pancy rates," said Mohamed Sammakia, managing director at Investcorp for the UAE.

"In the past year, Investcorp has deployed approximately $1.5 billion in U.S. real estate and we look forward to capturing new opportunities in the region."

Since 1996, Investcorp has completed more than 400 pro perty investments with a total value of more than $13bn.


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