Investcorp Pays $120M For Houston, Chicago Office Parks

Law360, New York (January 9, 2013, 3:34 PM EST) -- The real estate arm of Bahrain-based private equity investor Investcorp has teamed with two American firms to purchase 16 office properties grouped in the Houston and Chicago suburbs for a combined $120 million, the buyer announced Wednesday.

The purchases give Investcorp 900,000 square feet of upscale office space with a combined occupancy rate of about 90 percent, according to a statement from Investcorp.

“We selected these two portfolios, in part, as a result of an existing tenant base affiliated with the growing health care industry,” Mohammed...
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