(MENAFN) Bahrain's Investcorp purchased USD370 million worth of multifamily properties in the United States sited across six leading metro areas within five states.
Eleven properties were acquired by the Bahraini provider and manager of alternative investment products as it looks for expansion.
"This diversified acquisition marks a very exciting milestone for our real estate investment team as this is the largest real estate portfolio we have acquired in the U.S. market in more than 10 years," stated executive chairman Mohammed Alardhi.
Alardhi added: "as one of the most active investors in US multifamily real estate, our real estate investment business continues to be an important driver of our ambitious long-term global growth strategy on the path to $50 billion in AUM (assets under management)."
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