Investcorp opens in LA

Real Estate Weekly, Nov 14, 2007

Investcorp's U.S. based real estate group announced that it has formally opened a dedicated real estate investment office in Los Angeles.

Investcorp principal Brian Kelley and managing director Joel Moody have relocated to California and will oversee the operations.

The new office addresses a key business objective for Investcorp of gaining closer proximity to strategic business relationships and deal flow in the western third of the U.S. and, more generally, serves as the latest example of the increasing scale, scope and capability of the group's overall real estate platform, which remains based in New York.

John Fraser, co-head of Investcorp's real estate group, said, "We've always been active real estate investors in the western U.S. However, the opening of the West Coast office gives us far more leverage than we previously had to source attractive transactions in that region of the country on behalf of our global clients."

Over the last few years Investcorp has been involved in notable real estate transactions on West Coast markets including the group's largest deal to date, the Bravern, a mixed use development project in Bellevue, Washington, valued at nearly $900 million.