NYC-Based Investcorp Pays More Than $10 Million for 160-Unit Complex in Dallas

DALLAS-Investcorp, a group of New York City real estate professionals, is paying more than $10 million for a 160-unit apartment in Dallas. The acquisition marks the group's fifth multi-family purchase in the Texas market.

By Connie Gore | Updated on August 22, 2000

New York City-based Investcorp is paying more than $10 million for a 160-unit apartment complex in Dallas.The Villages at Clear Springs Apartments, completed in 1999, is the fifth Texas multi-family acquisition for Investcorp. The 96%-leased complex joins a portfolio that includes The Milano in Houston and Aviara, Sonterro and Gaston Yard, all in Dallas.

Investcorp is comprised of real estate professionals who acquire high-end existing commercial, hotel and residential properties with strong cash flows and potential for medium-term capital gains. The investment group has a real estate portfolio valued at more than $1.4 billion in select US urban and suburban markets representing all commercial and residential sectors. Investcorp also focuses on corporate investments and asset management, boasting a portfolio with an aggregate value of more than $17 billion.

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