Dubai, United Arab Emirates, -Monday 11 November 2019 [ 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 a
fourth property (“The Property”) from the Single Tenant Portfolio in
USA.
The Single
Tenant Portfolio was acquired in June 2017, consisting 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 with
healthcare, industrial, and office assets, and with tenants that enjoy
strong credit ratings and reputations in their markets.
The sold
property is an industrial facility located at 8029 Dixie Highway in
Florence, Boone County, Kentucky. The facility currently totals 191,215
SF of office and industrial space. Since 1972, the property has served
as the headquarters of SWECO, a wholly-owned subsidiary of Schlumberger
(NYSE: SLB), the world’s largest oilfield services company
The Portfolio
was acquired as part of Arzan Wealth’s yielding asset advisory 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.
The sale of the SWECO asset is consistent with Arzan Wealth’s original
strategy of identifying opportunities to break up the portfolio by
selling off some of the assets, while enhancing value in the others.
With this asset we have now advised on exists of four assets from this
portfolio and ten overall, reflecting our continued approach to not only
identify and advise on properties that provide regular income but also
profitable exits to investors.
Arzan Wealth
acted as the Sub 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:
“We are
pleased that once again, we have been able to meet the return
expectations of investors. This successful transaction exemplifies the
prudent approach of Arzan Wealth in terms of market selection and asset
quality and reinforces our primary strategy to preserve and protect the
wealth of investors, while producing an attractive and predictable
monthly income. Our track record, with a total of ten asset sales,
proves that investors who chose to invest in all deals Arzan Wealth has
advised on have benefited from this conservative approach, and will
have achieved an average IRR, net of taxes and fees, of ~14% per annum,
which is inclusive of an average monthly yield equal to ~8.25% per
annum.”
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$ 1.89
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
Head of Investment Operations, +96599888624
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