Investcorp adds $400m portfolio

Investcorp, a leading provider and manager of alternative investment products, announced that its US-based real estate arm, through four separate transactions, has acquired a portfolio of office and industrial properties in the metropolitan areas of Atlanta, San Francisco and Boston for approximately $400 million. 

The entire industrial portfolio and one of the three office properties are located in the greater Atlanta area. The remaining properties are located in the high-performing sub-markets of San Francisco and Boston. 

Mohammed Al Shroogi, Investcorp’s Co-CEO, said, “Atlanta, San Francisco, and Boston are top business destinations with some of the most compelling job and rental growth stories of recent years. All of the properties in this portfolio are well-occupied with strong, stable cash flows and diversified tenant bases, and thus are well aligned with our investment strategy of working with local operating partners to add value to properties that already provide an attractive current yield.”

Fahad Murad, Managing Director at Investcorp for Bahrain, said, “In the last twelve months, Investcorp’s total US real estate acquisitions have exceeded $1.1 billion, further enhancing our extensive experience in real estate investments. These acquisitions perfectly reflect our strategy and we think they are a great addition to our real estate portfolio in the
US.” 

Investcorp partnered with several local and regional operating partners to acquire the properties. The properties acquired total more than 5.5 million square feet with an average occupancy rate of approximately 85pc. Investcorp plans to add value to the properties through upgrades, renovations and capital investment.