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FINANCIAL NEWS
Investcorp acquire USD250m US property properties
16 Sep 2014
(MENAFN) Bahrain’s Investcorp, an alternative investment manager, announced it had acquired a portfolio of office and industrial property assets in three cities in the United States for around USD250 million, Arabian Business reported.
The properties are in Durham, North Carolina, Seattle in Washington, and Jacksonville in Florida, and they cover nearly 2.2 million square feet in total.
The company, which has set up USD312 million in real estate investments in the fiscal year, said that its real estate group had approximately USD1.4 billion in assets under management as of June 30
“These new properties provide significant diversification across product types and tenants and are located in fast-growing markets with strong demand generators,” The President of Gulf Business at Investcorp said.
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