Less than a day after announcing its divestment from Indian fashion retailer Citykart, Investcorp Capital, an investor in private markets and alternative investment opportunities, on Thursday said that it has exited 12 residential multiple-occupancy real estate assets (multifamily assets) across five states in the US – including the full liquidation of a multifamily portfolio – at an aggregate price of around $550 million.
Despite a tempered multifamily market, the exit was secured at a premium, reflecting the strength of the underlying properties as well as Investcorp Group’s ability to deftly navigate challenging investment environments, the company said in a regulatory filing with Abu Dhabi Securities Exchange (ADX) this morning.
Investcorp Capital’s interim CEO Mohamed Aamer said that though rent growth has cooled from the highs they saw in recent years, the long-term fundamentals supporting the multifamily sector remain compelling.
He added: “Our latest exits reflect the confidence in the sector, as well as Investcorp’s ability to capitalise on attractive opportunities and leverage operational expertise to create value. The team will continue to evaluate properties across target markets, identifying opportunities that will deliver to shareholders.”
The assets are 94% occupied on average and are situated in desirable rental markets including Atlanta; Philadelphia; Raleigh, North Carolina; and St. Louis, Missouri, as well as Tampa and Orlando in Florida. Most recently, the Investcorp Group team completed the liquidation process with the sale of a 432-unit garden-style apartment community in Atlanta at the end of February 2025.
Investcorp Group is among the top five largest cross-border buyers of the US real estate over the past five years, according to Real Capital Analytics. 98% of the firm’s portfolio consist of industrial or residential properties.
Capital Deployment
Besides exiting some of the assets, the company has invested $75 million across asset classes and geographies between July and December last year, including $30 million in real assets, mainly driven by the US Industrial Growth Portfolio, Baltimore & Minneapolis Industrial, Industrial Fund Recap, Industrial Fund II, JFK, US Student Housing IV Portfolio.
Corporate investments totalled $45 million including Epipoli, PKF O’Connor Davies and POC during the same period.
Proceeds from capital deployment investment realisations over the Period totalled $66 million. Of this, $44 million came from global credit, with the realisations of Collateralised Loan Obligations (CLOs).
Some $14 million was from real assets including the South Florida and Denver Industrial Portfolio, the US industrial growth portfolio, the US student housing II & III, 2020 Warehouse and Logistics, Boston and Minneapolis Industrial Portfolio and the US National Industrial II.
About Investcorp Capital
Investcorp Capital offers investors exposure to a global portfolio of investments across various asset classes, including those that have been and will continue to be carefully selected by Investcorp Group.
Investcorp Capital covers strategies across corporate investments, global credit, real assets and strategic capital, to generate value and recurring income by receiving dividends, collecting rents, financing fees and interest.
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