The FINANCIAL — Bahrain-based Investcorp has acquired three major properties in the US, bringing its real estate investments to $300 million this year, the asset management company announced.
GCC investors are increasingly capitalising on distressed assets in the US and Europe where the economic crisis has left companies struggling with liquidity, analysts said.
Investcorp has just closed on its purchase of the seven-storey Park Tower office complex in Long Beach, California, for an undisclosed price. This follows Investcorp's $37-million acquisition of the Bethesda Health City building in Boynton Beach, Florida, and the Ashford, a 221-unit garden and townhouse community comprising 15 residential buildings located in Atlanta, Georgia.The three properties, acquired through Sharia-compliant structures, underline the company's focus on high yielding assets, Investcorp said in a statement.
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