Investcorp acquires real estate property for US $180m

Investcorp, the Bahrain listed investment group, has acquired a 70% interest in an office property in Chicago, Illinois, in the United States.

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By  Massoud Derhally Published  June 12, 2002

Investcorp, the Bahrain listed investment group, has acquired a 70% interest in an office property in Chicago, Illinois, in the United States. The purchase of the property that was bought in partnership with Parkway Properties, Inc., a real estate investment trust, was in excess of $180 million.

This investment is the fifth office property Investcorp has acquired in 2002, and the first this year in Chicago.

Investcorp Management Committee Member and General Manager of the Firm’s Bahrain office, Salman Abbasi, said: “The acquisition of this well-leased, high-quality office property comes soon after our investment in April in two prestigious US office properties in New York City and continues our active real estate acquisition program.”

Investcorp's New York-based team of real estate professionals focuses on high-quality existing commercial, hotel and residential properties with strong cash flow and attractive potential for medium-term capital gains. The team overseas a portfolio with a current value of more than $1.4 billion in selected urban and suburban markets in the U.S.

Over the past four years, Investcorp has concentrated its property investments in sector-specific real estate portfolios including office, retail, hotel, industrial and residential properties.

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