NEW YORK CITY—Continuing to pursue a strategy focused on well-occupied properties and major US markets, the real estate arm of Investcorp has acquired a portfolio of office and industrial properties in the Atlanta,  Boston and San Francisco metro areas. Representing four separate transactions, the deals comprise a total of about 5.5 million square feet and are valued at approximately $400 million.

GlobeSt.com's Jennifer LeClaire reported this past Friday on one of these transactions, the acquisition of Stone Mountain Industrial Park, a 4.1 million-square-foot master-planned park in Atlanta's Tucker/Stone Mountain submarket. A partnership of Investcorp and Ackerman & Co. paid $135 million to acquire the 69-building park from Pattillo Industrial Real Estate, its original developer.

Investcorp did not say how much it paid for the other Atlanta-area asset, the 646,470-square-foot, two-building  Paces West office property at 2727 Paces Ferry Rd SE. However, Real Capital Analytics data indicate that a partnership of Investcorp and Crocker Partners paid $113 million to acquire Paces West from a joint venture of TIER REIT and Oaktree Capital Management.

Among the property's other attributes, it boasts limited near-term rollover of its tenant roster, which includes Piedmont Healthcare, BT North America and Reliance Insurance  Co. Crocker and Investcorp previously teamed up to acquire a 12-building portfolio at the Flagler Center business park in Jacksonville, FL in September 2014.

In the Boston area, Investcorp bought the Ballardvale Office Portfolio,a multi-tenant, class B office park in Wilmington, MA. It includes 200 Ballardvale St. and Ballardvale Office Park, both of which Investcorp acquired from AEW Capital Management.

Total occupancy of the 567,000-square-foot, multi-building portfolio is about 89%, according to RCA; the aggregate purchase price was not available. Its tenant base runs the gamut of manufacturing, printing/publishing, technology, biotechnology and education.

On the West Coast, Investcorp paid $67 million for Tower Plaza in the San Francisco submarket of San Mateo, CA; the sellers were ScanlanKemperBard and Goldman Sachs, according to RCA. The property at 2121 S. El Camino Real consists of a 12-story office tower, three two-story plaza buildings, one single-story plaza building and a five-story parking garage.

"Atlanta, San Francisco, and Boston are top business destinations with some of the most compelling job and rental growth stories of recent years," says Brian Kelley, principal, real estate investment at Investcorp. "All of the properties in this portfolio are well-occupied with strong, stable cash flows and diversified tenant bases, and thus are well aligned with our investment strategy of working with local operating partners to add value to properties that already provide an attractive current yield."

Headquartered in Bahrain with US offices in New York City, Investcorp has also been active in the multifamily sector. GlobeSt.com reported in October that the company had acquired eight rental apartment properties in separate transactions, also totaling approximately $400 million. The assets, which Investcorp acquired with various local and regional operating partners, are located in the Denver, Las Vegas, Atlanta, Chicago and Dallas-Fort Worth metro areas.