Investcorp Amasses $400M of Office, IndustrialBy
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Investcorp and Crocker Partners reportedly teamed up to buy Paces West.
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…
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