Investcorp sells US real estate assets for $900m
- Date: 15-Nov-2020
- Source: Arab News
- Sector:Real Estate
- Country:Saudi Arabia
Investcorp sells US real estate assets for $900m
Investcorp sells US real estate assets for $900m
Investcorp sells US real estate assets for $900m
The properties were garden and townhome-style apartment buildings located in major metropolitan areas in Arizona, California, Florida and New York.
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Investcorp sells US real estate assets for $900m
Updated 14 November 2020
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Investcorp, a global provider and manager of alternative investment products, announced that it has recently sold eight multifamily properties located in Arizona, California, Florida and New York, to multiple buyers for more than $900 million.
The properties were garden and townhome-style apartment buildings located in major metropolitan areas in Arizona, California, Florida and New York. Investcorp acquired the assets in 2016 and 2017 and completed numerous value-enhancing initiatives, increasing average monthly revenue per unit by approximately 20 percent, implementing select property and amenity upgrades and interior