Investcorp announced the acquisition of a diversified portfolio of senior living and multifamily properties across key U.S. gateway markets for approximately $200 million, marking a continued push into high-demand residential asset classes.
The portfolio includes three residential assets totaling nearly 500 units, consisting of two senior housing communities and one multifamily property located in the Los Angeles and New York metropolitan areas. The move reinforces Investcorp’s growing conviction in senior living, following its recent acquisition of a 140-unit senior housing asset in Boston.
The multifamily component of the transaction is a 199-unit apartment community in Bloomfield, New Jersey, representing Investcorp’s first multifamily acquisition in over three years. The firm, historically an active multifamily investor, has remained selective amid shifting market valuations, targeting opportunities with strong value creation potential. The Bloomfield asset stands out as a high-quality property in a walkable location with luxury amenities and comparatively more attainable rental pricing than nearby New York City properties.
Investcorp emphasized that the acquisition aligns with its strategy of targeting supply-constrained, high-demand markets. The properties are located in regions characterized by strong employment bases, limited land availability, and barriers to new development, including elevated construction costs and complex zoning regulations.
The firm highlighted senior living as a key growth area, citing favorable demographic trends. According to the United States Census Bureau, the population aged 80 and older is projected to grow by more than 70% by 2035 and more than double by 2045. Additionally, Green Street Advisors forecasts that senior housing will experience the highest growth among U.S. real estate sectors through 2029.
The acquired portfolio had an average occupancy rate of 94% as of the end of 2025 and includes a 148-unit senior living property in Orange County, California, a 199-unit multifamily community in Bloomfield, New Jersey, and a 116-unit senior living property on Long Island, New York.
Market fundamentals in these regions remain strong. Data from Zillow indicates that home values in the New York Tri-State and Los Angeles metropolitan areas have risen approximately 3% year over year, reflecting sustained demand and constrained supply.
Investcorp also noted its broader positioning within the U.S. real estate market. Real Capital Analytics ranks the firm among the top five cross-border buyers of U.S. real estate over the past five years. Industrial and residential assets account for 98% of its U.S. portfolio. In 2025, Investcorp ranked #42 on the PERE 100 list, improving from #51 the previous year.
KEY QUOTES:
“These acquisitions represent the strategic expansion of our senior living – and more broadly, residential – portfolio in some of the largest and most influential MSAs in the U.S. 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. We’re planning to invest over $1 billion in this asset class over the next couple of years.”
Michael O’Brien, Co-Head Of U.S. Real Estate, Investcorp
“The properties within this portfolio are strategically located in deep, diversified economies with sustained housing demand. 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.”
Ryan Bassett, Head Of U.S. Residential Acquisitions, Investcorp
