Alternative investment manager Investcorp has bought $170.9m worth of loans backed by US commercial real estate, it said on Tuesday.

Bahrain based Investcorp said it had completed a series of transactions to acquire a senior mortgage loan, a B-note for a senior mortgage and two mezzanine loans, all secured by commercial property assets in the US.

All loans are 'performing well', the company said in a statement.

'Overleveraged buyers are being forced to recapitalise, and lenders, who need to liquidate to address balance sheet issues, are being forced to sell outright,' said managing director Mazin Al Khatib.

arabianbusiness.com