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Sign in Sign up for a FREE subscriptionInvestcorp invests $350m in multifamily properties in Florida, Arizona
Investcorp’s U.S.-based real estate arm has invested in six multifamily properties in Florida and Arizona, for a total purchase price of approximately $350 million. The properties are located in key growth markets with strong fundamentals in the multifamily space.
“The U.S. multifamily market remains attractive for new investment opportunities,” said Herb Myers, managing director real estate investment at Investcorp. “This recently acquired portfolio builds upon our strong track record of investing in multifamily properties in growth markets over the past several years and their ability to deliver consistent yields in a yield-constrained global environment,” said Myers.
Highpoint Club and Montevista at Windermere are two apartment communities, which combined have 708 units. These properties are located within two different submarkets of the Orlando metropolitan area, a market that is expected to see population, employment, and GMP growth rates among t