INVESTCORP ACQUIRES MULTIFAMILY PORTFOLIO FOR $100M

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AUSTIN, DALLAS AND HOUSTON — Investcorp, an international alternative asset manager, has acquired a portfolio of five multifamily properties in Austin, Dallas and Houston for more than $100 million. Three of the five properties are located in Houston and the other two are located in Austin and Dallas. The properties have an average 91 percent occupancy. Mosaic Residential Management manages four of the five properties and The Carroll Organization manages the other. The Carroll Organization has also taken a joint venture interest alongside Investcorp in one of the Houston properties.

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