Investcorp Capital furthers U.S. real estate investments with acquisition of four student housing accommodations

Investcorp Capital plc (the “Company” or “Investcorp Capital”) (ADX symbol: “ICAP”), an investor in private markets and alternative investment opportunities, is pleased to announce its investment in four student housing acquisitions totaling more than 2,500 beds for a gross transaction value of over $300 million in aggregate.

The acquisitions include:

A 792-bed, 99%-occupied property at Texas A&M University in College Station, Texas;
A 486-bed, 98%-occupied property at Texas State University in San Marcos, Texas;
A 699-bed, 96%-occupied property at the University of Kentucky in Lexington, Kentucky; and
A 684-bed, 99%-occupied property at the University of Oklahoma in Norman, Oklahoma.

This builds on Investcorp Capital’s investments in U.S. student housing, with $160 million previously invested in the University of Florida and the University of Texas at Austin. The investment activity aligns with the Company’s business model and its commitment to seeking to pay strong semi-annual dividends of at least 8% per annum.

Tim Mattar, Chief Executive Officer of Investcorp Capital, commented: “The student housing sector continues to perform well, and we believe the robust fundamentals of this asset class will translate into strong performance and compelling risk-adjusted returns for investors. With more than 22 million college students in the U.S., there is significant demand for housing which many of the top universities struggle to meet, leading students to hunt for off-campus options. Combined with growing enrollment and steady rent growth, we believe this creates favorable operating dynamics which support our long-term conviction in the asset class.”

Mohamed Aamer, Incoming Interim Chief Executive Officer of Investcorp Capital commented: “There are attractive opportunities to be found within real estate, and as an asset class it continues to show solid performance. At Investcorp Capital, we are committed to delivering positive, risk-adjusted returns for investors, and will continue to target growth sectors across our asset classes."