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.