DUBAI, United Arab Emirates -- Gulf investment house Investcorp says its American division has acquired five real estate developments in Texas for more than $100 million.
The deals announced on Tuesday gives the Bahrain-based company 1,900 housing units in greater Austin, Dallas and Houston. It follows last year's Investcorp acquisition of four properties in Houston.
Investcorp's president for Gulf business, Mohammed Al-Shroogi, says Texas' strong overall economic indicators make it attractive for real estate investments.
Investcorp primarily invests Gulf Arab oil wealth in the U.S. and Europe.
Source: http://www.miamiherald.com/2012/12/18/3147009/gulf-investment-arm-takes-texas.html
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