Investcorp Bolsters US Apt. Portfolio

Myers says Investcorp has been active in the multifamily and student housing sectors over the past 18 months.

NEW YORK CITY—Investcorp has further expanded its US apartment holdings with a trio of acquisitions valued at nearly $400 million combined.  The Bahrain-based alternative investment manager did not disclose the sellers for the properties, located in New York, California, and Nevada.

The properties include Atlantic Point, a 795-unit class A development in the Long Island community of Bellport, NY; the Highlands, a 556-unit, class B, garden-style complex in Grand Terrace, CA, within the Inland Empire; and Villas at Green Valley, a 609-unit garden apartment complex in the Las Vegas suburb of Henderson, NV. All three properties are located in markets which benefit from robust fundamentals, ranging from low vacancy to rapid population growth.