Real Estate Investcorp buys US student housing assets for $160m By Pramod Kumar July 12, 2024, 5:11 AM Unsplash.com/Marcus Loke Investcorp owns and manages more than 16,500 beds across 25 student housing investments Investcorp, Bahrain’s alternative asset manager, has acquired two student housing properties in the US for $160 million, as university enrolment numbers surge. The two properties, the University of Florida in Gainesville and the University of Texas at Austin, have a combined 914 beds. The two universities are ranked among the top 10 public universities in the US in terms of academic quality and enrollment, the company said, quoting a US News & World report. NewsletterGet the Best of AGBI delivered straight to your inbox every week NewsletterGet the Best of AGBI delivered straight to your inbox every week “Our national student housing portfolio is 99 percent occupied for the 2023/2024 academic year,” said Michael O’Brien, co-head of real estate for the US at Investcorp. These new acquisitions appear to be far outpacing market averages in pre-leasing for the 2024/2025 academic year, he said. Investcorp buys Indian tech company for $120m Investcorp to invest in $4.2bn JFK terminal 6 overhaul Investcorp to strengthen US presence with $526m venture Since 1996, Investcorp has acquired over 1,300 properties for a total value of over $25 billion. The company, among the top-five largest cross-border buyers of US real estate over the past five years, owns and manages more than 16,500 beds across 25 student housing investments. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
