(MENAFN) Investcorp , the Bahrain-listed alternative investment fund, bought a portfolio of residential properties in the United States for around USD300 million, Reuters reported.
The deal, made through its U.S. based property arm, bring the fund's total purchases of properties in the country in the last 12 months to over USD850 million, Investcorp said in a statement.
The latest properties, which total more than 2.1 million square feet, are in Washington D.C., Orlando, San Diego and Baltimore. They include around 1,900 family and student housing units with an occupancy rate of about 96 percent, offering potential for stable cash flow.
The improving U.S. economic picture will stimulate further real-estate investments by the fund, with its main target being suburban offices and multi-family residential units in the top 30 U.S. metropolitan areas.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.