Investcorp’s U.S.-based real estate division has picked up three multifamily properties in the New York, California and Nevada for a combined purchase price of nearly $400 million. The three properties include Atlantic Point, a 795 unit multifamily property in Bellport, N.Y., which is located within the Nassau County-Suffolk County Metro Division. The Highlands, a 556 unit garden style multifamily property in Grand Terrace, CA and the Villas at Green Valley, a 609 unit garden style multifamily property in Henderson, Nevada. The acquisition brings the company’s total residential investments over the past 18 months to more than $1.2 billion.
Mohammed Alardhi, executive chairman of Investcorp, suggests the U.S. economy is poised for significant growth, thus providing good return for the Bahrain-based company and its clients. “Our investment in residential properties in the past 18 months demonstrates our belief that the U.S. real estate market provides high-quality investments.”
