{"id":1004052492,"date":"2012-05-31T12:16:39","date_gmt":"2012-05-31T20:16:39","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=50422"},"modified":"2022-12-07T14:49:22","modified_gmt":"2022-12-07T22:49:22","slug":"investcorp-buys-1000-unit-multifamily-portfolio-for-57m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/investcorp-buys-1000-unit-multifamily-portfolio-for-57m\/","title":{"rendered":"Investcorp Buys 1,000+ Unit Multifamily Portfolio for $57M"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Georgiana Mihaila, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\">Investcorp\u2019s U.S. real estate arm acquired an interest from MHP Investments in a portfolio of 1,076 units in the master-planned Copperfield community of northwest Houston. The portfolio commanded a price of $57 million, or $52, 974 per unit, <em>CoStar<\/em> reports.<\/p>\n<p style=\"text-align: justify\">The portfolio consists of four adjacent properties: Peppermill Place at 8440 Easton Commons Drive, Easton Village at 8550 Easton Commons Drive, Coventry Square at 8630 Easton Commons Drive and Copperfield Apartments at 8255 Sunbury Lane. The properties, 95 percent leased at the time of the sale, have recently been renovated.<\/p>\n<p style=\"text-align: justify\">The acquisition is consiste<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/05\/Copperfield.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-50425\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/05\/Copperfield.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/a>nt with Investcorp&#8217;s recent focus on high-yielding, stable real estate assets in the major metro areas of the United States. Earlier this year, it acquired a portfolio of office, industrial and retail properties in the North Bay region of the San Francisco Bay Area for approximately $65 million.<\/p>\n<p style=\"text-align: justify\">According to company vice president\u00a0Ryan Bassett, &#8220;The Houston metro area continues to be one of the largest and strongest job producers in the nation, and many of Houston&#8217;s new jobs have been in the Energy Corridor of West Houston. We think MHP has done an excellent job with these properties to date, and we&#8217;re delighted to be working with them in this joint venture.&#8221;<\/p>\n<p style=\"text-align: justify\">Holly Minter, James Tramuto and Robert Zorich of Jones Lang LaSalle Americas Inc. handled the transaction; Investcorp recapitalized the assets with MHP Investments, which will retain an interest in the transaction. According to an official statement, Investcorp financed the transaction with 10-year, fixed-rate financing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investcorp&rsquo;s U.S. real estate arm acquired an interest from MHP Investments in a portfolio of 1,076 units in the master-planned Copperfield community of northwest Houston. The portfolio commanded a price of $57 million, or $52, 974 per unit, CoStar reports.<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21742],"tags":[39438,1815],"class_list":["post-1004052492","post","type-post","status-publish","format-standard","hentry","category-houston","category-latest","tag-houston","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Investcorp Buys 1,000+ Unit Multifamily Portfolio for $57M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/investcorp-buys-1000-unit-multifamily-portfolio-for-57m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investcorp Buys 1,000+ Unit Multifamily Portfolio for $57M\" \/>\n<meta property=\"og:description\" content=\"Investcorp&rsquo;s U.S. real estate arm acquired an interest from MHP Investments in a portfolio of 1,076 units in the master-planned Copperfield community of northwest Houston. The portfolio commanded a price of $57 million, or $52, 974 per unit, CoStar reports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/investcorp-buys-1000-unit-multifamily-portfolio-for-57m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-05-31T20:16:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T22:49:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/05\/Copperfield.jpg\" \/>\n<meta name=\"author\" content=\"Georgiana Mihaila\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investcorp-buys-1000-unit-multifamily-portfolio-for-57m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investcorp-buys-1000-unit-multifamily-portfolio-for-57m\\\/\"},\"author\":{\"name\":\"Georgiana Mihaila\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/7f47e1fdc15ee76043a807c37aa761f9\"},\"headline\":\"Investcorp Buys 1,000+ Unit Multifamily Portfolio for $57M\",\"datePublished\":\"2012-05-31T20:16:39+00:00\",\"dateModified\":\"2022-12-07T22:49:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investcorp-buys-1000-unit-multifamily-portfolio-for-57m\\\/\"},\"wordCount\":258,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investcorp-buys-1000-unit-multifamily-portfolio-for-57m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2012\\\/05\\\/Copperfield.jpg\",\"keywords\":[\"Houston\",\"National\"],\"articleSection\":[\"Houston\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investcorp-buys-1000-unit-multifamily-portfolio-for-57m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investcorp-buys-1000-unit-multifamily-portfolio-for-57m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/investcorp-buys-1000-unit-multifamily-portfolio-for-57m\\\/\",\"name\":\"Investcorp Buys 1,000+ Unit Multifamily Portfolio for $57M - 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