Investcorp Pays $100M For 5 Texas Multifamily Properties

Law360, New York (December 18, 2012, 1:58 PM EST) -- Bahrain-based private equity investor Investcorp has completed the acquisition of five multifamily properties in Texas for a combined purchase price of roughly $100 million, Investcorp said Tuesday.

The properties are located in the metropolitan areas of Austin, Dallas and Houston, Investcorp said, and have a total of 1,900 multifamily housing units. Four of the properties are managed by Mosaic Residential Management, a Texas firm that operates residential buildings throughout the state. The fifth property is currently being managed by Atlanta-based real estate investor Carroll Organization....
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