MANAMA, BAHRAIN—Investcorp reports that it has bought a total of $200 million in US office properties, according to a story in the Gulf Daily News.
The News reports that the acquisition includes assets in Washington, Denver and Houston metropolitan areas and exceed one million square feet in total,
“Investcorp's strategy is to acquire high quality, high occupancy assets in prime locations underpinned by an attractive industry base,” Investcorp Gulf Business president Mohammed Al Shroogi is quoted as saying.
“This new acquisition fulfills these requirements, expands our real estate portfolio and gives us the opportunity to generate cash flows in dynamic commercial markets,” he added.
Three of the office properties are located within the Denver-Boulder technology corridor, benefiting from a burgeoning healthcare and technology market, and include tenants such as McKesson, a leading medical technology company, and Alcatel-Lucent, a global telecommunications equipment company.
Click Gulf Daily News to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
