Investcorp acquires $420M multifamily portfolio rew-online.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rew-online.com Daily Mail and Mail on Sunday newspapers.
New York-based investment company, Investcorp, has acquired a portfolio of five, 96 percent occupied multifamily residential properties comprising 1,854 units across three key US suburban markets for $330 million. The five Class B, garden-style for rent apartment properties 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.
The acquisition expands Investcorp’s footprint in US multifamily real estate, where it has been one of the most active international players. It has traded more than $1 billion in US multifamily real estate assets recently.