Investcorp buys U.S. real estate assets for $100 million
DUBAI (Reuters) - Investcorp INVB.BH, a Bahrain-based alternative asset manager, said on Tuesday it acquired five real estate assets in the United States for around $100 million.
The property purchase, which includes 1,900 residential units in Houston, Texas, is the company's second real estate investment in the United States in 2012 after buying four properties in the state earlier this year.
The investment firm had in November bought Danish luxury retailer Georg Jensen from private equity firm Axcel Capital Partners for $140 million and sold truck and trailer parts distributor FleetPride to TPG for over $1 billion.
The Manama-based firm had $11.5 billion in assets under management on June 30. It raised $250 million in October from a five-year international bond issue.
(Reporting By Mirna Sleiman; Editing by Dinesh Nair)
- Tweet this
- Share this
- Digg this
- Exit polls see gains for BJP in state elections
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- WTO overcomes last minute hitch to reach its first global trade deal
- Mega Millions jackpot climbs to $344 mln for next week
- UPDATE 2-Jay Z leads with 9 Grammy nominations, but newcomers vie for top honors