Dubai, United Arab Emirates-Wednesday 19 September 2018 [ AETOS Wire ]
Arzan
Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm
regulated by the Dubai Financial Services Authority, is pleased to
announce that it has successfully advised its clients on the sale of two
properties (“ the Properties”) from the Single Tenant Portfolio in
USA.
The
Single Tenant Portfolio consists of 6 single-tenant net-leased
buildings with a total of 760,533 sq ft, located in 6 states in the US
and sectorally diversified as it includes 1 healthcare, 3 industrial,
and 2 office assets, with tenants that enjoy strong credit ratings and
reputations in their markets. The portfolio was acquired in June 2017.
One
of the sold buildings is a hospital built in 1998, located in Seminole,
Oklahoma and leased to Alliance Health (Integris) that serves more than
30,000 residents in Seminole County and the surrounding area. The other
exited asset is a class A office building built in 1986, located in
Trenton, Georgia and leased to Accellent (Lake Region Medical).
Accellent manufactures polymer components as well as assembles medical
devices that are primarily polymer based.
The
Portfolio was acquired in June 2017 as part of Arzan Wealth’s yielding
asset platform with an objective of producing an average annual yield of
8.50% to investors, and an IRR of around 10% over a three-year holding
period. Arzan Wealth’s strategy was to identify opportunities to break
up the portfolio by selling off some of the assets, while enhancing
value in the others. Both assets were successfully sold at a price that
has created a net weighted-average IRR of around 13.2%.
Arzan
Wealth acted as the Strategic Advisor on the structuring and sale of
the Properties, and will continue in this role during the remaining
holding period of the remaining assets.
Muhannad Abulhasan, CEO of Arzan Wealth said:
“These
two sales take Arzan Wealth’s track record to eight exits on behalf of
clients, and I am very pleased that we have been able to greatly exceed
the return expectations of investors on selling the Accellent and
Integris buildings. This transaction exemplifies the prudent approach of
Arzan Wealth, in terms of market selection and asset quality. I am
also pleased to announce that we have also accepted an attractive offer
on a third asset in this portfolio. The closing of the sale is expected
in October 2018 and would again exceed the IRR expectations projected at
the time of acquisition. We are proud of the trust that is being placed
in Arzan Wealth by our clients, and we look forward to delivering on
our promises to them in future. The primary objective of Arzan Wealth is
to preserve and protect the wealth of our clients, while producing an
attractive and predictable monthly income.”
Notes to Editors
About Arzan Wealth (DIFC) Limited
Arzan
Wealth is an investment advisory firm registered at the Dubai
International Financial Centre (DIFC), and is regulated by the Dubai
Financial Services Authority (DFSA). Arzan Wealth currently advises
various professional clients on real estate, private equity and other
investments with a total value of assets advised around US$ 1.4
Billion. Arzan Wealth focuses on arranging yielding investments in
major global markets, as well as bespoke investments that meet the
requirements of specific clients.
Past or projected performance is not necessarily a reliable indicator of future results.
Contacts
Ahmad AlSabbrei, Senior Investment Analyst, +96599888624
a.alsabbrei@arzanwealth.com
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