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Investcorp Transactions Total $148.5M

NEW YORK CITY-The global investment corporation buys apartment communities in Orlando and Nashville for a combined total of $60 million and disposes of four multifamily and retail assets for $88.5 million

By Glen Thompson | Updated on January 13, 2003

NEW YORK CITY-Investcorp’s New York offices have closed on the acquisition of two multifamily properties for a combined total of $60 million. The firm has also sold two shopping centers and two apartment complexes for $88.5 million.

Investcorp, which also has offices in London and Bahrain, has purchased The Fountains at Waterford Lakes in Orlando and Monthaven Park Apartments in Nashville. Both properties purchased on Dec. 27 from Archstone Communities Trust, which will continue to manage the assets.

The Fountains at Waterford Lakes is a 400-unit, garden-style apartment complex built in 1999 and 2000 Archstone. The Property consists of 17 three-story residential buildings plus an office/clubhouse situated on 22 acres in the eastern suburbs of Orlando. Occupancy at the property is currently 97%.

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