Investcorp’s U.S.-based real estate arm said Monday that it had closed on about $220 million worth of acquisitions in the multifamily and student housing sectors. The five properties are located in the Minneapolis metropolitan area and in Boca Raton.
Investcorp did not identify the sellers. Real Capital Analytics data reveal that the seller of the 892-bed Boca Student Housing portfolio was a joint venture of Rosemurgy Properties, Lewis Rental Properties and Giles Capital Group. Comprised of University Park, University View and University Square in Boca Raton, the student housing assets traded for a combined $105.3 million. The three properties have an occupancy rate of 98 percent.
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