Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has granted structured financing of AED 100 million (£20 million) to support investors in their acquisition of a supermarket asset in Edinburgh in Scotland.
The transaction has enabled Urbium Capital Partners (UCP) to acquire a Sainsbury’s store in Edinburgh, according to a press release on Wednesday.
The property comprises an 85,961 square feet prime food store and a 12 pump petrol filling station occupying a 4.6-acre site, established in 2013.
The transaction is the fourth supermarket investment that ADIB has financed in the UK in the last 12 months.
The Head of UK Real Estate at ADIB, Paul Maisfield, said: "We look forward to helping support UCP execute their UK commercial real estate investment strategy targeting well-located core assets with good income visibility and strong tenant covenants, with a focus on cash yield."
Meanwhile, the Managing Partner at Urbium Capital Partners, Suliman Al Aujan, commented: "The prime subject asset forms part of Sainsbury’s dynamic omnichannel network and benefits from strong trading fundamentals."
