Investcorp Acquires National Multifamily Portfolio for $311M

by Alex Tostado

HOUSTON, SALT LAKE CITY AND TAMPA, FLA. — Investcorp’s New York City office has acquired six multifamily properties for a total of $311 million.

Three of the properties are in Houston and comprise 1,392 units; one property is in Salt Lake City featuring 253 units; and two properties are in Tampa, comprising 1,231 units. All six properties are garden-style apartment communities. Investcorp did not release the specific names of the communities.

“The U.S. multifamily sector continues to present attractive opportunities, and we are pleased to announce the addition of these six properties to our U.S. real estate portfolio,” says Rishi Kapoor, co-CEO of Investcorp. “These investments underscore our commitment to increasing Investcorp’s footprint in the U.S. market, a key driver of the firm’s overall growth strategy and a market on which we will be incredibly focused in 2019.”

Investcorp now owns more than 13,000 multifamily units in the U.S.

“Multifamily has always been a strong area of focus for Investcorp, and this portfolio is fully aligned with our strategy of investing in core-plus U.S. real estate,” says Michael Moriarty, principal in real estate investment at Investcorp.

Investcorp is an international alternative investment firm based in Bahrain. The company employs approximately 390 people across its offices in New York, Bahrain, London, Abu Dhabi, Riyadh, Doha and Singapore. Investcorp manages more than $22 billion in assets.

— Alex Tostado

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