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Bahrain’s Investcorp ups investments in US to USD300m

20 Nov 2011

(MENAFN) Bahrain-based Investcorp lately made three acquisitions in the US, raising its total property buys this year to USD300 million, Arabian Business reported.

The acquisitions are the latest in a series of US investments for the asset management firm, which has closed eight property deals in the country this year.

The first deal was acquiring a seven-storey office complex in Long Beach, California, while the second deal was acquiring a USD 37 million healthcare complex in Florida.

The third deal was buying a 221-unit garden and townhouse development composed of 15 residential buildings in Atlanta, Georgia.

Investcorp managed USD11.8 billion assets by June, and its profits rose 37 percent in the fiscal year 2011, driven by the sale of some profitable investment holdings.

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