An Investcorp fund has acquired five new U.S. multifamily properties across Arizona, Texas and Georgia. The portfolio acquired by the fund includes 2,228 “for-rent” units, for an all-in value of approximately $420 million.
This acquisition is the latest in a number of Investcorp transactions in the U.S. residential space this year. Investcorp has completed more than $1 billion in multifamily acquisitions and $1.3 billion in residential sales, including multifamily and student housing, over the last 10 months. While Investcorp narrowed its strategic focus to residential and industrial property types in 2014, this year’s momentum is partially due to the opportunities that emerged from the changing real estate dynamics resulting from the COVID-19 pandemic. Today, Investcorp’s current global real estate AUM totals more than $7 billion, of which over $3 billion is held in U.S. residential assets.
“As one of the largest investors in U.S. multifamily real estate,
