Bahrain-based Investcorp has announced the acquisition of six multi-family properties in the United States with a purchase price of $350m.
The company said the properties were located in key growth markets in Florida and Arizona and had strong occupancy levels.
They include Orlando apartment communities Highpoint Club and Montevista at Windermere with a combined 708 units and Southside Meadows, Jacksonville-based with 616 units.
The other properties are Arcadia Cove, Tuscany Palms and Midtown on Main in the Phoenix metropolitan area. They have a combined 1,486 units.
“The acquired properties represent a great addition to our growing portfolio of multifamily properties in the US. The strong occupancy levels in these properties, together with the strong fundamentals of the markets they are located in, made them an attractive investment for us,” said Fahad Murad, managing director at Investcorp for Bahrain.
The firm previously acquired six US industrial properties in April for $160m and three multi-family housing properties in February for $400m.