BAHRAIN: BAHRAIN’S INVESTCORP ACQUIRES NEW YORK OFFICE BUILDINGS FOR $156M - CALIPHATE MEDIA

Breaking News

Post Top Ad

Post Top Ad

Monday, 13 November 2017

BAHRAIN: BAHRAIN’S INVESTCORP ACQUIRES NEW YORK OFFICE BUILDINGS FOR $156M




 Image result for investcorp of bahrain

               Bahrain-based Investcorp has finalize the acquisition of two New York office buildings for $156m.
The acquisition which covers buildings at, 229 West 36th Street and 256 West 38th Street, both located in Midtown Manhattan and are fully leased to 20 long-term tenants, according to investcorp with a total of 267,000 square feet.
The company said they would benefit from development activity around Hudson Yards, Manhattan West, Penn Station, and Moynihan Station.
The firm has entered into a joint venture with New York-based owner and operator Brickman, which will serve as the leasing and management agent.

 Investcorp Celebrates U.S. Growth at Second Annual Event in New York
"We are excited to announce our investment into the Manhattan market, as expanding our real estate portfolio in the U.S. is a key component of our firm’s overall growth strategy,” said Mohammed Alardhi, Executive Chairman of Investcorp. “As one of the largest foreign investors in U.S. real estate, we have invested over $2 billion in the last 18 months and will continue to focus on uncovering opportunities in gateway cities across the country.”
229 West 36th Street and 256 West 38th Street are office buildings in Midtown Manhattan. Centrally located, the properties offer easy access to the city’s primary transportation hubs and are positioned to benefit from the transformation of Manhattan’s West Side. The properties are fully leased to a diverse roster of over 20 long-term tenants and total approximately 267,000 square feet. Consistent with Investcorp’s investment approach, both properties maintain strong cash flows, proven operating histories, and high occupancy rates.
Image result for manhattan
MANHATTAN


"These centrally located properties are well-positioned to benefit over the long term from the development activity around Hudson Yards, Manhattan West, Penn Station, and Moynihan Station while providing stable, in-place cash flows to our investors,” said Brian Kelley, Managing Director in Real Estate Investment at Investcorp. “We are excited to enter into our third partnership with Brickman, as we believe their investment and management capabilities will unlock immediate value in each of the properties.”

 “The company’s other US real estate investments this year have included six multi-family properties in in September for $350m, six industrial properties in April for $160m and three multi-family housing properties in February for $400m.”

ABOUT INVESTCORP

We are a world-leading manager of alternative investments for select individuals and institutions. Founded in 1982, we’ve built a global reputation for superior performance, innovation and client service.

Investcorp has earned distinction through reliability, transparency, business judgment, value creation, innovation and superior results.
We combine the growth dynamics of Gulf capital and the alternative investment industry with international management discipline.
We were founded as, and remain, a firm that is global in its outlook, attitude and culture. As such, we have offices in New York, London, Bahrain, Abu Dhabi, Doha, Riyadh and Singapore.
As one of the largest and most diverse alternative investment managers – in terms of both product and geography – we are uniquely placed to offer our clients a range of attractive investment products.
We currently have more than $21.4 billion of assets under management.
We have a unique placement capability in the Gulf, where we offer a high level of personal service to an investor base of high-net-worth individuals and institutions.
We are different because we offer investments to our clients on a deal-by-deal basis, reflecting our investors' preference for investment discretion.
What's more, we co-invest significantly with our clients across our business areas, which ensures that our interests are firmly aligned with theirs. Many of our clients have also chosen to be shareholders of Investcorp; they feel pride and involvement in, and ownership of, our success.
At Investcorp, we pride ourselves on the long-term relationships we have built with our clients, based on mutual trust, respect and delivery. Our dedicated client service team acts as a trusted and informed advisor to clients.  

No comments:

Post a Comment

Leave A Comment

Post Top Ad