Investcorp, a major provider and manager of alternative investment products, has announced that its US-based real estate arm, through four separate transactions, has acquired a portfolio of office and industrial properties in the metropolitan areas of Atlanta, San Francisco and Boston for approximately $400 million.

These acquisitions are consistent with Investcorp’s strategy to invest in well occupied properties with healthy cashflows located in major US markets displaying strong economic fundamentals and employment growth.

The entire industrial portfolio and one of the three office properties are located in the greater Atlanta area, and should be set to benefit from its highly diversified and growing economy.

As the business capital of the Southeast, Atlanta boasts some of the highest job and population growth projections in the country. The remaining properties are located in the high-performing sub-markets of San Francisco and Boston, which benefit from strong technology, biotechnology, and healthcare driven office demand.

Yasser Bajsair, MD, Investcorp in Saudi Arabia, said: “Given our extensive track record in the US real estate market, we are well positioned to identify the best investment opportunities for us. All the US markets we targeted in these acquisitions enjoy well established and diversified economies. This, together with the growing demand for office space in these markets, resulted in attractive investments that fit our strategy very well.”

Investcorp partnered with several local and regional operating partners to acquire the properties. The properties acquired total more than 5.5 million square feet with an average occupancy rate of approximately 85 percent. Investcorp plans to add value to the properties through upgrades, renovations and capital investment.

In the last 12 months, Investcorp’s total real estate acquisitions have exceeded $1.1 billion. Since 1996, Investcorp has completed close to 350 property investments totaling more than $12.5 billion in value.