Investcorp, a major provider and manager of alternative investment products, Tuesday announced that its US-based real estate arm, through separate transactions, has acquired a portfolio of residential properties in the metropolitan areas of Washington, DC, Orlando, San Diego and Baltimore for approximately $ 300 million.

The acquisitions continue a highly active period for Investcorp’s real estate group. Over the last 12 months, Investcorp purchased properties in the US collectively valued at more than $850 million. Since 1996, Investcorp completed more than 300 property investments totaling more than $11 billion in value.

Yasser Bajsair, MD at Investcorp in Saudi Arabia, said: “The acquisition of these properties builds on the momentum generated by our real estate group in the United States. The transactions are in line with Investcorp’s prudent strategy of investing in attractively valued real estate assets with what we believe to be promising yields and upside potential.”

Investcorp completed these acquisitions through joint ventures with four different operating partners, each possessing deep knowledge of the local markets as well as operational expertise in managing the assets. Investcorp maintains controlling interests in all of its real estate investments and regularly partners with established national or regional real estate companies who frequently choose to co-invest alongside the Firm.

The four properties acquired total more than 2.1 million square feet with approximately 1,900 multifamily and student housing units. The properties currently have high occupancy rates, with a current average occupancy rate of approximately 96 percent.

The acquired properties are: Arcadian, Silver Spring, Maryland located in Montgomery County and part of the Washington, DC;

Orion on Orpington, Orlando, Florida in close proximity to the University of Central Florida; Waterleaf Apartment Complex, Vista, California in a northern suburb of San Diego; and Fairways at Towson, Baltimore, Maryland. Fairways at Towson is in a submarket of Baltimore-Columbia-Towson.