Investcorp property spree in Florida and Arizona

The US-based real estate division of Bahrain’s Investcorp has invested in six apartment complexes in Florida and Arizona with a total purchase price of $350 million.

The company said the properties have high occupancy rates and are located in areas with good potential for growth in employment and rents.

“The acquired properties represent a great addition to our growing portfolio of multifamily properties in the US,” said Fahad Murad, managing director at Investcorp for Bahrain.

The apartment complexes are Highpoint Club and Montevista at Windermere, which are in the Orlando metropolitan area, and Aqua Deerwood, which is in Jacksonville. Arcadia Cove, Tuscany Palms and Midtown on Main are in the Phoenix metropolitan area.

Investcorp said it has invested in real estate deals worth more than $1.8 billion in the past 18 months.

©2017 funds global mena

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