The Bahrain Mumtalakat Holding Company is investing in a portfolio of US offices in a joint venture with Regent Properties.

Mumtalakat, the investment arm of the Kingdom of Bahrain, is acquiring an interest in an existing $250m (€223m) portfolio of US commercial real estate assets managed by LA-based Regent.

Mahmood Hashim Alkooheji, chief executive at Mumtalakat said: “This transaction, our third investment in the US in less than two years, is in line with our ongoing strategy to partner with reputable international businesses looking for growth capital with a long-term investment horizon.”

Mumtalakat will join existing Regent investors including BlackRock and CAM Capital.

The portfolio – in Phoenix, Arizona and Dallas – is let to a wide range of industries.

Mumtalakat said Phoenix and Dallas continued to see strong and steady employment growth, providing more compelling risk/return profiles than highly priced gateway markets.