Investcorp Acquires Bicoastal Multifamily and Senior Living Portfolio for $200M

Global alternative investment firm Investcorp purchased a portfolio of three residential assets totaling 463 units in the Los Angeles and New York metropolitan areas for approximately $200 million, the company announced Tuesday.

The acquisition involves two senior living facilities in New York and California and one multifamily complex in New Jersey. The properties boasted an average occupancy of 94 percent at the end of 2025, according to Investcorp. 

“These acquisitions represent the strategic expansion of our senior living — and, more broadly, residential –— portfolio in some of the largest and most influential [metro areas] in the U.S.,” Michael O’Brien, co-head of U.S. real estate at Investcorp, said in a statement. 

On the West Coast, Investcorp now owns a 148-unit senior living property in Orange County, Calif. Its other senior living acquisition sits in Long Island, N.Y., and spans 116 units. 

The deal follows another recent Investcorp transaction for a 140-unit senior living community in Boston. 

“Our decision to re-enter the senior housing sector reflects the strong opportunity we see in the asset class, and we believe it’s poised for sustained performance due to the nation’s rapidly growing senior population, which has meaningfully increased demand for these assets amid stalling inventory growth,” O’Brien said.

Investcorp plans to invest more than $1 billion in senior housing over the next three years, according to O’Brien.

A 199-unit multifamily complex in Bloomfield, N.J., completes the trio of newly acquired properties. 

A spokesperson for the firm declined to disclose the exact locations of the properties. 

The Bloomfield asset represents the first multifamily property that Investcorp has acquired in more than three years, according to the firm, which cited the particular asset’s attractive price point, amenities and walkability.

“The properties within this portfolio are strategically located in deep, diversified economies with sustained housing demand,” Ryan Bassett, head of U.S. residential acquisitions at Investcorp, said in a statement. “Limited land availability, ongoing elevated construction costs and complex zoning requirements are barriers to entry in these markets, reflecting the potential for these assets to continue to perform in both the near and long term.”

A spokesperson for Investcorp declined to disclose the portfolio’s seller. 

Emily Davis can be reached at edavis@commercialobserver.com.