The Bahrain-based manager of alternative investments products, Investcortp, has announced acquiring a real estate portfolio worth of office and industrial properties in a number of US cities worth 400 million dollars.
The acquisition took place in Atlanta, Boston, and San Francisco. It comes as a part of Investcorp’s strategy to invest in properties located in major American cities
The company mentioned in a statement that it partnered with a number of local and regional partners to make the acquisition happen. The properties total space is about 5.5 million square feet with an occupancy rate of about 85 percent.
Investcorp mentioned in its statement also that it intends to add value to the purchased properties by running a number of improvements and renovations on them.
It’s worth mentioning that Investcorp has made since 1996 about 350 property investment deals worth about 12.5 billion dollars.