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Home Non Banking Funds

Riyad REIT invests USD 62 million in US logistics portfolio

Riyad REIT is a padlocked Shariah-compliant real estate investment traded fund

Sakshi K S by Sakshi K S
January 3, 2022
in Funds, Logistics, Private, The Global Economics
Reading Time: 1 min read
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Riyad REIT invests USD 62 million in US logistics portfolio

Riyad REIT invests USD 62 million in US logistics portfolio

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Riyad REIT, the fund of Saudi Arabia’s Riyad Capital, stated that it has invested USD 62 million in an American Logistics portfolio comprising of 5 logistic properties.

The Riyad REIT Investment

The properties, which are comprehensively leased with a prejudiced average tenure of 15.5 years, are newly developed, fabricated-to-suit logistics comprising more than 4.5 million square feet across the Southeast United States, the investment banking wing of Riyad Bank stated in a statement on Tadawul on Monday.

The investment is estimated to produce an average annual yield of 7.5% to Riyad REIT over a 4-year investment tenure.

The fund is a padlocked Shariah-compliant real estate investment traded fund. It purchases, maintains, possesses, and develops a portfolio of income-generating real estate assets.

The investment is a fraction of the fund’s capital surge procedure by generating new shares and has been financed comprehensively via the available shariah-compliant short-tenure debt facility for Riyad REIT, it added. The conveniences will be reimbursed after the capitalization procedure is finished.

Via: Short URL
Tags: American LogisticsRiyad BankRiyad REITsaudi arabia
Sakshi K S

Sakshi K S

Sakshi is a professional content writer engaging readers with gripping business news stories.

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