Abu Dhabi-listed Investcorp Capital offloads US real estate assets
Bahrain's Investcorp Capital has offloaded its real estate assets in the US, amidst headwinds of rising mortgage rates and economic uncertainty in the American housing market.
The ADX-listed alternative investment firm said it has exited 12 residential multi-occupancy assets across five states in the US, including the full liquidation of a multifamily portfolio at an aggregate price of $550 million.
Investcorp Capital said that 'despite a tempered multifamily market', the exit was secured at a premium.
'Though rent growth has cooled from the highs we saw in recent years, the long-term fundamentals supporting the multifamily sector remain compelling,' said Interim CEO, Mohamed Aamer, adding that the company will continue to evaluate properties across target markets.
The assets are 94% occupied on average and are situated in rental markets including Atlanta; Philadelphia; Raleigh, North Carolina; and St. Louis, Missouri, as well as Tampa and Orlando in Florida, Investcorp added.
Most recently, the Investcorp Group team completed the liquidation process with the sale of a 432-unit apartment community in Atlanta at the end of February 2025.
Last week, Freddie Mac said mortgage rates have inched up this past week but continue to remain lower than one year ago. 'With more inventory for buyers to choose from than the last few years, purchase application activity continues to hold up,' said Sam Khater, Freddie Mac's Chief Economist.
The 30-year fixed rate mortgage (FRM) averaged 6.86% as of May 22, 2025, up from last week's 6.81% average, but down from a year ago when the 30-year FRM averaged 6.94%.
Meanwhile, the 15-year FRM averaged 6.01%, up from last week when it averaged 5.92%, but down from the 15-year FRM average from a year ago at 6.24%.
(Writing by Bindu Rai, editing by Seban Scaria)
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