13 Mar 2012
(MENAFN) Bahrain’s Investcorp successfully closed US property deals for a total of USD65 million, Arabian Business reported.
The asset management firm said it acquired six commercial real estate projects in the Northern San Francisco Bay Area of California. The was completed through PB&J Acquisitions, a San Francisco-based real estate owner and operator.
The properties include 14 buildings, including a mix of office, industrial and retail properties and cover a total of 840,637 sqft.
Khalid Al Rumaihi, managing director at Investcorp said this investment follows another USD200 million invested in the US real estate over the last 12 months.
Investcorp is seeking to invest over USD400 million on stakes in companies in Turkey and the GCC in the coming two years, James Tanner, head of corporate investment.
He also expected to close at least two deals next year and to deploy an average of USD60 million equity per deal.
The company took its total buys in the US to eight in 2011 with a total value of USD300 million.
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