Bahraini funds invest in US real estate

23 November 2016

Investcorp and Arcapita target major cities

Bahrain’s Investcorp has completed five investments in real estate in Boston and Denver, for a purchase price of around $250m.

The portfolio includes 20 properties with different local partners.

It consists of 1.8 million square feet of office, industrial, flexible and laboratory space, with an average occupancy rate of 94 percent.

The largest properties are:

  • Boston Metro Industrial - four buildings covering 900,000 square feet, 95 percent occupied
  • Blackstone Science Square - 76,038 square feet of office/lab property in Cambridge, Massachusetts, 99 percent leased to tenants in the life-sciences industry
  • Centerpoint I & II - a 370,000 square foot office complex in Denver’s Midtown
  • Arapahoe Business Park and 345 Inverness - 10 office/flexible properties covering 485,000 square feet in Colorado

This follows compatriots Arcapita’s acquisition of three senior living properties in Washington DC, Atlanta and Colorado for $197m.

They are managed by local Arbor Company.

Bahrain’s sovereign wealth fund Mumtalakat also announced an intention earlier in 2016 to invest $250m in real estate in Dallas and Phoenix, Arizona.

Investcorp has already made $400m of investments in commercial real estate in Washington DC and Seattle in 2016.

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