Bahrain Investcorp’s U.S. unit buys eight residential properties for $400m

Bahrain’s Investcorp, has bought eight residential properties in the United States for about $400m through its U.S. unit, the investment bank said on Wednesday.

Investcorp acquired properties in the metropolitan areas of Las Vegas, Denver, Chicago, Atlanta and Dallas, it said in a statement.

These latest purchases take Investcorp’s total real estate investments over the past 12 months to more than $1bn, the statement said.

The acquired properties are rented out to tenants and have an average occupancy rate of about 96 per cent. Investcorp bought them “through joint ventures with several local and regional operating partners”, the statement said.