Investcorp, the alternative investments manager from Bahrain has announced it has acquired five US office properties totalling US $200 million. The properties exceed more than a million square feet are located in Denver, Houston and Washington DC metro areas.
The property developments currently have a combined occupancy of 94%. The acquisitions, according to Investcorp, is in line with its strategy of acquiring high quality assets in stable markets with growth potentials and low unemployment rates.
According to Mohammed Al-Shroogi, the President for Investcorp's Gulf Business, "Investcorp's strategy is to acquire high quality, high occupancy assets in prime locations underpinned by an attractive industry base. This new acquisition(s) fulfills these requirements, expands our real estate portfolio and gives us the opportunity to generate cash flows in dynamic commercial markets."
The properties are Tyson's Commerce Center in Washington DC, Westmoor Place in Denver, Colorado; and One Westchase Center in Houston, Texas.
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