Bahrain’s Investcorp sells eight US property assets for over $900m

Bahrain’s Investcorp sells eight US property assets for over $900m

Bahrain's Investcorp has sold eight multifamily properties located in Arizona, California, Florida, and New York to multiple buyers for more than $900m.The properties were garden and townhome-style apartment buildings located in major metropolitan areas.Investcorp acquired the assets in 2016 and 2017 and completed numerous value-enhancing initiatives, including increasing average monthly revenue per unit by approximately 20%; implementing select property and amenity upgrades; interior unit renovations; as well as benefitting from the targeted markets' consistently strong housing fundamentals with favorable supply and demand dynamics.Commenting on the sale, the managing partner for for Investcorp's Private Wealth, Yusef Al Yusef, said: “These transactions demonstrate our continued execution of our real estate strategy, targeting attractive, cash flow generating assets across the US. We see increasing demand