Sharia-compliant asset manager Sidra Capital has invested $206 million to acquire a US industrial real estate portfolio.
The acquired assets include 30 occupied single tenant net leased assets located in 15 states.
According to Gulf Cooperation Council-based Sidra, one of the benefits of the portfolio is the number of established mid-market and large companies which have occupied their respective properties for an average of 27 years.
Furthermore, with a weighted average unexpired lease in excess of 13 years, Sidra claims that the portfolio is expected to deliver “strong and stable cash yield for the investment hold period”.
The acquisition follows the aggregation of six US student accommodation assets and the acquisition of a site occupied by UK supermarket group Sainsburys in the UK.
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