DUBAI |
DUBAI Nov 5 (Reuters) – Bahrain-based Investcorp
said on Tuesday that it has acquired a group of offices and
retail properties in the United States for $250 million.
The investment firm’s U.S.-based real estate arm bought
high-end offices and retail space in greater Chicago, Los
Angeles, Minneapolis and New York, the company said in a
statement.
The properties are a total of more than 1.6 million square
feet and have a combined occupancy rate of about 92 percent,
Investcorp said.
Investcorp has been buying into the U.S. real estate market,
and announced the acquisition of five properties for $100
million in December 2012.
The company has acquired more than 200 properties since
1995, with a total value of about $10 billion, it said. It
currently has more than $4 billion of property and debt funds
under management.
Investcorp is one of the several investors who have
expressed a preliminary interest in buying a stake in Italian
fashion house Versace, according to sources.
(Reporting by Praveen Menon; Editing by Dinesh Nair)