Bahrain-based alternative asset manager Investcorp has acquired five real estate assets in the US for around $100m, according to a report by Reuters. Earlier this year, Investcorp acquired four multifamily properties in Houston in a separate transaction.
The entire portfolio was purchased for about $100 million and consists of 1,900 units and has a collective occupancy of 91%.
It includes: Bristol Square: a 336 unit community in Austin, Waters Park: a 168 unit community in Dallas, Villages of Meyerland: a 714 unit community in Houston, Cottages of Champions Forest: a 300 unit community in Houston, Villas at Edgewater: a 414 unit community in Houston, Houston-based Mosaic Residential. 
Houston’s multifamily market has spiked in recent months. Many recently announced projects incorporated in mixed-use developments had lost steam during the recession but have jumped back online this year.
“We view Texas as a very attractive marketplace when considering multifamily property investments. Relatively low levels of unemployment, local job creation, a healthy rental market, strong underlying asset characteristics and the overall state of the economy have created attractive conditions for real estate investment,” Mohammed Al-Shroogi, Investcorp’s president for Gulf business, said in the company’s recent statement.
