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FINANCIAL NEWS
Bahrain’s Investcorp buys USD270 m of US areas
26 Nov 2013
(MENAFN) Bahrain-based Investcorp, a major provider and manager of alternative investment products, said that its US-based real estate arm has made transactions with Chicago, Austin and Las Vegas to acquire metropolitan areas, according to Arab News.
The acquired properties cost USD270 million. Investcorp has purchased high quality office and retail properties at USD250 million a year ago through acquiring transactions.
“These recent residential acquisitions are consistent with our strategy of targeting high quality assets and what we believe are attractive yields in addition to the potential for near- and long-term upside through operating improvements and renovations,” Mohammed Al-Shroogi, president of Gulf Business at Investcorp.
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