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FINANCIAL NEWS
Bahrain-based Investcorp buys US properties for USD200m
09 Apr 2013
(MENAFN) Bahrain’s Investcorp announced new USD200 million acquisitions in US Washington DC, Denver and Houston metropolitan areas, reported Arabian Business.
The purchases are part of the alternative investments manager’s plan to expand in markets with economic growth and low jobless rate.
The company, whose assets under management stood at USD11.5 billion as of December 31, added that the combined occupancy rate at the 5 office properties exceeds 94 percent.
Investcorp said that the properties include the 181,000 sqft Tysons Commerce Center, an office development in the Washington DC metropolitan area; 428,000 sqft Westmoor Place, a property in Denver comprising 3 offices that include major technology and healthcare tenants; and 466,000 sqft One Westchase Center, a development on the outskirts of Houston, Texas.
It is worth noting that the properties are well-situated so that Investcorp is able to benefit from several sectors, including energy, healthcare, technology and education.
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