Investcorp announced Wednesday that it recently acquired six multifamily properties, with a total of 2,876, for a combined purchase price of $311 million.
According to Investcorp, the properties are all “garden style” apartment communities. The acquisition includes two properties in Tampa with 1,231 total units; three properties in Houston with 1,392 total units; and one property in Salt Lake City with 253 units.
“The U.S. multifamily sector continues to present attractive opportunities, and we are pleased to announce the addition of these six properties to our U.S. real estate portfolio,” said Rishi Kapoor, co-chief executive officer of Investcorp.
“These investments underscore our commitment to increasing Investcorp’s footprint in the U.S. market, a key driver of the firm’s overall growth strategy and a market on which we will be incredibly focused in 2019,” Kapoor added.
Investcorp also operates in Europe, the Middle East, North Africa region, and Asia, and has offices in Bahrain, New York, London, Abu Dhabi, Riyadh, Doha, and Singapore.