NEW YORK CITY—Investcorp's US-based real estate arm on Wednesday said it had acquired a diverse pool of properties across five separate deals in the Boston and Denver markets. Total purchase price was approximately $250 million.

The five investments include 20 buildings and 1.8 million square feet of office, industrial, flex and laboratory space averaging 94% occupancy, in keeping with the Dubai-based alternative asset manager's strategy to invest in strong, cash-flowing properties in key US markets. The most recent of the deals was completed earlier this month, with the $57-million acquisition of Blackstone Science Square in Cambridge, MA from Brickman Associates, according to industry data.

Of roughly equal value, according to industry data, was Investcorp's acquisition of what is known collectively is as Boston Metro Industrial, four properties totaling approximately 900,000 square feet in the Boston suburbs of Avon, Franklin, Peabody and Wilmington. For these properties, Investcorp acquired a minority interest from a joint venture of Novaya Ventures and RJ Kelly Co., according to industry data.

In Denver, Investcorp acquired Denver Centerpoint I and II, a pair of office properties totaling about 373,000 square feet, for $61.7 million, data from Real Capital Analytics show. The company also acquired Arapahoe Business Park and 345 Inverness, a portfolio of 10 office/flex properties totaling 485,000 square feet and located in Centennial and Englewood, CO. The assets were acquired in a JV with Griffin Partners from Hines REIT this past May, according to industry data.

“Boston and Denver are highly desirable markets whose strong economies make them appealing locations for investments,” says Herb Myers, managing director, real estate investment at Investcorp. “The acquisition of these properties is in line with our strategy of acquiring well-occupied cash flowing properties in metropolitan areas with strong growth fundamentals. These properties have long weighted average lease terms, and we believe there is upside potential through our plan to implement property upgrades and accretive leasing.”

NEW YORK CITY—Investcorp's US-based real estate arm on Wednesday said it had acquired a diverse pool of properties across five separate deals in the Boston and Denver markets. Total purchase price was approximately $250 million.

The five investments include 20 buildings and 1.8 million square feet of office, industrial, flex and laboratory space averaging 94% occupancy, in keeping with the Dubai-based alternative asset manager's strategy to invest in strong, cash-flowing properties in key US markets. The most recent of the deals was completed earlier this month, with the $57-million acquisition of Blackstone Science Square in Cambridge, MA from Brickman Associates, according to industry data.

Of roughly equal value, according to industry data, was Investcorp's acquisition of what is known collectively is as Boston Metro Industrial, four properties totaling approximately 900,000 square feet in the Boston suburbs of Avon, Franklin, Peabody and Wilmington. For these properties, Investcorp acquired a minority interest from a joint venture of Novaya Ventures and RJ Kelly Co., according to industry data.

In Denver, Investcorp acquired Denver Centerpoint I and II, a pair of office properties totaling about 373,000 square feet, for $61.7 million, data from Real Capital Analytics show. The company also acquired Arapahoe Business Park and 345 Inverness, a portfolio of 10 office/flex properties totaling 485,000 square feet and located in Centennial and Englewood, CO. The assets were acquired in a JV with Griffin Partners from Hines REIT this past May, according to industry data.

“Boston and Denver are highly desirable markets whose strong economies make them appealing locations for investments,” says Herb Myers, managing director, real estate investment at Investcorp. “The acquisition of these properties is in line with our strategy of acquiring well-occupied cash flowing properties in metropolitan areas with strong growth fundamentals. These properties have long weighted average lease terms, and we believe there is upside potential through our plan to implement property upgrades and accretive leasing.”