Investcorp, a major provider and manager of alternative investment products with more than $ 11 billion of assets under management, announced its US-based real estate arm, through separate transactions, has acquired a portfolio of office and industrial properties in Durham, NC, Seattle, WA and Jacksonville, FL for approximately $250 million.

Mohammed Al-Shroogi, president of Gulf Business at Investcorp, said: “These properties provide significant diversification across product types and tenants and are located in fast-growing markets with strong demand generators. We believe that the portfolio is already well-positioned with stable cash flows.”

Combined, the properties acquired consist of nearly 2.2 million square feet and have an average occupancy rate of 87 percent.

Class A corporate office park Meridian Corporate Center, Durham, North Carolina is adjacent to the Research Triangle Park (RTP). The property comprises nine buildings and includes a diverse mix of tenants and products that range from Class A midrise office assets to single story R&D. This acquisition follows Investcorp’s 2012 acquisition of three properties in the Raleigh market, which was recently named by Forbes as the fastest growing city in the United States.

Highlands Campus Tech Centre, Bothell, Washington, a three-building campus, consists of Class A office and flex space constructed in 1999 and is situated on Seattle’s desirable Eastside.

Flagler Center, Jacksonville, Florida, 12-building portfolio, is highly diversified across tenants and product types. Built between 1997 and 2008, this portfolio contains some of the newest commercial real estate assets in Jacksonville.

As of June 30, 2014 Investcorp’s real estate group had approximately $1.4 billion in assets under management. Investcorp deployed $ 312 million in real estate investments in the fiscal year ending June 30, 2014, continuing its focus on commercial, office and residential real estate assets in the top 30 largest markets in the United States.