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Investcorp from Bahrain acquires five U.S. multifamily properties for $330m

Christian Fernsby |
Investcorp has announced that it has acquired a portfolio of five, 96% occupied multifamily residential properties comprising 1,854 units across three key U.S. suburban markets for $330 million.

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Topics: INVESTCORP    BAHRAIN    U.S.   

Khulood Ebrahim, Real Estate Product Specialist at Investcorp, said: "We are excited to further enhance our significant multifamily real estate footprint in the US with these stable, highly-occupied properties in key suburban areas."

"Our latest acquisitions are consistent with our defined investment approach and build upon our long history of investing in US multifamily real estate," she stated.

The five Class B, garden-style “for rent” apartment properties Investcorp acquired are located in suburban residential areas of Atlanta, Georgia; Baltimore, Maryland; and Jacksonville, Florida.

The properties feature a variety of amenities, including swimming pools, fitness centers, clubhouses and 24-hour controlled access entry, among others, and are in desirable neighborhoods with a high quality of life and close proximity to major transportation and employment hubs.

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