- Investcorp buys five apartment buildings across US
Email Address* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink TagsInvestcorp HoldingsInvestment SalesMultifamily Market Investcorp CEO Hazem Ben-Gacem (iStock)Private equity firm Investcorp Holdings has purchased five apartment buildings across the U.S. in a deal valued at $330 million.The buildings — located in the suburbs of Atlanta; Baltimore, Maryland; and Jacksonville, Florida — contain a combined 1,800 rental units geared toward middle-income renters, according to Bloomberg News.The deal bolsters Investcorp’s multifamily portfolio at a time when investors are increasingly favoring residential assets over offices and hotels.It also follows a sale last November of eight apartment buildings owned by the firm in Arizona, California, Florida and New York.Investcorp currently owns more than 14,000 units in the U.S., spread out over 40 properties, according to Bloomberg. It has $33 billion in assets under management.The firm was ahead of the pandemic-driven turn toward multifamily and industrial assets, choosing to focus its portfolio on those sectors several years ago. It also owns student housing and offices throughout the country.The company recently ran into trouble with one of its investments: Last year, the firm was the target of a lawsuit by Wells Fargo after it defaulted on a $65.1 million CMBS loan for a South Florida mall.[Bloomberg News] — Sylvia Varnham O’ReganContact Sylvia Varnham O’Regan Message* Share via Shortlink Full Name*
- Watch All Of Oteil Burbridge’s On-Stage Footage From Dead & Company’s Summer Tour
Over the past year, bassist Oteil Burbridge landed himself the role of a lifetime with Dead & Company. Granted, playing in the Allman Brothers Band for 17 years is also pretty much the role of a lifetime, but there’s something that clicked very early on with Burbridge and the Grateful Dead community. It’s been nothing but positivity once he started playing in the band!In an interview with us earlier this year, Burbridge said, “I guarantee you I will be playing this music for the rest of my life.” If that’s not dedication, we don’t know what is!On his 52nd birthday today, we wanted to show you just how excited Oteil is when he’s on stage with the Dead & Company guys. Fortunately, the bassist has been sharing stage-side videos from some of the band’s biggest gigs, including Citi Field, Fenway Park and the tour closer at Shoreline Amphitheatre. Watch the series of videos below and join us in wishing Oteil Burbridge a very happy birthday!Citi Field Shoreline Amphitheatre Fenway Park Happy birthday Oteil!! Of course, for fans of Burbridge’s blend of jamming, don’t miss him perform in the All Brothers Band with Kofi Burbridge, Alan Evans and Neal Evans at the second annual Brooklyn Comes Alive festival in Brooklyn, NY – with over 50 artists spanning three venues in one day: October 22nd. With musicians from The Disco Biscuits, Joe Russo’s Almost Dead, The String Cheese Incident, Dopapod, Lettuce and more all performing, this event looks to be one of the best! More details here.