DUBAI: Bahrain-based Investcorp yesterday said that it has acquired a group of offices and retail properties in the US for $250m.
The investment firm's US-based real estate arm bought high-end offices and retail space in greater Chicago, Los Angeles, Minneapolis and New York, the company said in a statement.
The properties are a total of more than 1.6 million square feet and have a combined occupancy rate of about 92 percent, Investcorp said.
Investcorp has been buying into the US real estate market, and announced the acquisition of five properties for $100m in December 2012. The company has acquired more than 200 properties since 1995, with a total value of about $10bn. It has more than $4bn of property and debt funds under management. Reuters
