Investcorp, a leading global provider and manager of alternative investment products, announced today that it had acquired seven high-quality office properties worth $140 million across key markets in the US. Covering over 900,000 square feet, the deals include two real estate equity acquisitions and one debt financing investment. The properties, with occupancy rates in excess of 95 percent, are leased by longstanding tenants including; the National Institute of Health in the Keystone Office Park in Raleigh, North Carolina; Oracle, in in the Duke Bridges office park complex in Frisco, Texas and; the law firm BakerHostetler in the Denver, Colorado suburb of Lakewood. Investcorp currently manages more than $11.5 billion in assets.
"Our real estate team has a proven track record of finding high-quality assets in metropolitan communities with strong diversified employment and economic growth above national levels that provide stable and attractive cash flows," said Investcorp president of Gulf business Mohammed Al Shroogi in a Gulf Daily News article.
Christopher Hoeffel, a managing director in Investcorp's Real Estate group continued, "Office properties in growth markets with strong demand generators are on the rebound, and can be purchased at better valuations than similar properties in major gateway cities. Rooted in our value-oriented investment approach, we also see significant opportunities for high-quality, performing debt investments that can be acquired or originated at attractive yields."
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