You are hereHome SectorsKuwait
Gatehouse successfully exits U.S. Industrial Net Leased Portfolio III
Source: PRNewswire for Gatehouse Financial Group , Author: Posted by BI-ME staff
Posted: Thu December 14, 2017 11:33 am

KUWAIT. --/PRNewswire/AsiaNet-Pakistan -- Gatehouse Financial Group (Gatehouse), a leading real estate focused shariah-compliant financial services group, today announced that it has successfully completed the sale of its U.S. Industrial Net Leased Portfolio III.

The Portfolio has been sold to a joint venture backed by a China based alternative asset manager. The portfolio is comprised of 3.3 million square feet, consisting of 24 industrial and office properties, and situated across 13 states including California, Florida, New York, Texas, and Virginia. The Portfolio, which is stabilized at 100% occupancy, was acquired in a joint venture partnership with Brennan Investment Group in July 2013.

Mr. Fahed Boodai, Chairman of Gatehouse, said: "We are delighted with the successful performance of this investment with the Brennan Investment Group. Together we have already invested nearly $1 billion in the US industrial real estate markets. Gatehouse continuously seeks to partner with best in-class operators with demonstrated expertise in specific real estate sectors."

"We are very pleased with the successful exit of the USIP Net Leased Portfolio III and our partnership with the Gatehouse Financial Group. Gatehouse is an important partner for Brennan Investment Group and we look forward to collaborating together on future acquisitions," said Michael Brennan, Chairman and Managing Principal of Brennan Investment Group.

Photo Captions:
1. (above)  Fahed Boodai, Chairman of Gatehouse (PRNewsfoto/Gatehouse Financial Group)
2. (inset)  For illustrative purposes only (File photo)

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: January 19, 2018
INTERNATIONAL. Saxo Bank's strategy team sees a market full of potential hazards as we head into 2018; From central bank policy normalisation to rising inflation expectations, from fiscal deficit expansions to cross-asset correlations, the signs are all there.
date:Posted: January 19, 2018
LEBANON. 2018 annual consumer trends report from J. Walter Thompson's Innovation Group MENA, forecasts 100 trends depicting the region's fast-paced evolution; It captures key themes accelerating the pace of change for consumers.
date:Posted: January 18, 2018
INTERNATIONAL. Gemalto and Ponemon Institute study reveals regional disparities in adoption of cloud security; Half of global organizations believe that payment information (54%) and customer data (49%) is at risk in the cloud; Over half (57%) think using the cloud increases compliance risk.
INTERNATIONAL. Saxo Bank's strategy team sees a market full of potential hazards as we head into 2018; From central bank policy normalisation to rising inflation expectations, from fiscal deficit expansions to cross-asset correlations, the signs are all there.
dhgate