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Investcorp expands real estate portfolio with property acquisitions in Minneapolis, Boca Raton.

BANKING AND CREDIT NEWS-March 22, 2016-Investcorp expands real estate portfolio with property acquisitions in Minneapolis, Boca Raton

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Investcorp has acquired five residential properties in the metropolitan areas of Boca Raton, Florida and Minneapolis, Minnesota through two separate transactions for approximately USD220 million, the company said.

The acquisitions are consistent with Investcorp's strategy to invest in desirable, high quality properties located in high demand markets providing attractive cash yields. The Boca Raton properties are comprised of three student housing properties in Boca Raton, FL. The residential properties located in the suburbs of Minneapolis, MN are comprised of two multi-family apartment properties with 854 units and an average occupancy rate of 95 percent.

Investcorp is a provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse (INVCORP). The Investcorp Group has offices in New York, Bahrain, London, Saudi Arabia, Doha and Abu Dhabi. Investcorp has three business areas: corporate investment in the US, Europe and the Gulf, real estate investment in the US and global hedge funds. As at December 31, 2015, the Investcorp Group had USD10.7 billion in total assets under management.

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Publication:M2 Banking & Credit News (BCN)
Geographic Code:1U4MN
Date:Mar 22, 2016
Words:206
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