"The dynamics of the apartment market in a number of US markets have been very attractive, and, thus, Investcorp has been and will continue to be very active as both an acquirer and seller of assets in this sector," says Investcorp's spokesman Jonathan Dracos. Specifics about this transaction, including the name of the buyer and the financial details, were not disclosed.
Investcorp focuses on high-quality commercial, hotel and residential buildings with strong cash flow and attractive potential for medium-term capital gains. Its $1.4 billion portfolio includes office, retail, hotel, industrial and residential properties.
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