The asset management firm yesterday announced the purchase of a 12,545 square metre shopping centre in Coral Springs, Florida. It was Investcorp's third commercial property deal in the US in recent weeks for the company, bringing its total value of purchases to US$120 million (Dh440.7m).
The deals represent a shift in strategy for Investcorp, which controls $12.2 billion in assets.
The firm focuses on US investments, but last year its activity centred on buying distressed debt and equity, not property, said a company spokesman.
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