Investcorp acquires eight U.S. multifamily properties for $330m

Investcorp’s U.S.-based real estate investment team has acquired eight new multifamily properties, comprising 2,510 units for a total purchase price of $330 million. The seller was not disclosed.

The properties span the submarkets of five rapidly growing metro areas across the Southeast and Southwest regions: Atlanta; Dallas; Jacksonville, Fla.; Phoenix; and Raleigh, N.C.

“The acquisition of this multifamily portfolio builds on our strong successes in the United States and European real estate markets, and demonstrates the important role we see our real estate investment business playing in our overall investment strategy for 2019,” said Rishi Kapoor, co-chief executive officer of Investcorp. "Looking ahead, the United States remains a priority market for us as we continue to see investment opportunities aligned with our objective of securing strong in-place cash flows and value-add opportunities.”

All the properties within this portfolio are “garden-s