Investcorp Buys $250m Worth Of U.S. Real Estate Assets

Bahrain-based Investcorp said on Tuesday that it has acquired a group of offices and retail properties in the United States for $250 million.

The investment firm’s U.S.-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 per cent, Investcorp said.

Investcorp has been buying into the U.S. real estate market, and announced the acquisition of five properties for $100 million in December 2012.

The company has acquired more than 200 properties since 1995, with a total value of about $10 billion, it said. It currently has more than $4 billion of property and debt funds under management.

Investcorp is one of the several investors who have expressed a preliminary interest in buying a stake in Italian fashion house Versace, according to sources.