Investcorp Completes $550 Million Sale of Multifamily Assets

Investcorp, a renowned global alternative investment firm, has successfully completed the sale of 12 multifamily properties across five US states, garnering an aggregate price of approximately $550 million. Despite a challenging multifamily market, the firm managed to exit these assets at a premium, showcasing the robustness of their investment strategy and the desirability of the properties. Michael OBrien, Global Co-Head of Real Assets at Investcorp, highlighted that while rent growth has slowed, the underlying fundamentals of the multifamily sector remain solid. Investcorp's ability to navigate this environment and achieve such transactions underscores investor confidence and their strategic prowess. The properties, averaging a 94% occupancy rate, are located in thriving rental markets including cities like Atlanta, Philadelphia, and Tampa. The culmination of the sales was marked by the disposal of a 432-unit complex in Atlanta. With a status as one of the top cross-border buyers in US real estate, Investcorp continues to explore property investments that promise value through enhancements and efficiency.