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Investcorp Sells US Multifamily Property Assets for $900 Million

The alternative investment manager sold eight properties located in Arizona, California, Florida and New York.

(Bloomberg)—Investcorp Holding BSC, the biggest private equity and alternative asset manager in the Middle East, sold eight U.S.-based multifamily properties for more than $900 million.

The units were located in metropolitan areas in Arizona, California, Florida and New York, the Bahrain-based company said on Tuesday. The properties were acquired in 2016 and 2017.

“We see increasing demand for multifamily properties,” said Yusef Al Yusef, managing partner for Investcorp’s private wealth. “We remain focused on delivering long-term value for our shareholders and investors.”

© 2020 Bloomberg L.P.

TAGS: Investment
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