Investcorp, an alternative investment manager based in Bahrain, said on Tuesday it had acquired a portfolio of office and industrial property assets in three cities in the US for around $250 million.

The purchases, done in separate transactions, were completed by the firm's US-based real estate arm, a statement from Investcorp said.

The properties are in Durham, North Carolina, Seattle in Washington, and Jacksonville in Florida. In total, they cover nearly 2.2 million sq ft and have an average occupancy rate of 87 per cent, the statement added without naming the parties from which the purchases were made.-Reuters