Mubasher: Dimah Capital Investment Company, a 68.05% subsidiary of Al Imtiaz Investment Group, announced acquiring Residence Inn Hotel in US city of Seattle at $118 million.
The transaction is expected to achieve a 9% cash dividend, which will be distributed monthly, along with an 11.5% internal income, senior vice president at Dimah Capital Waleed Mohammed said in a statement.
The Kuwaiti firm implemented the sharia-compliant acquisition by collaborating with Stonebridge Companies, Mohammed added.
Marriott Residence Inn includes 302 rooms, an area for businesses, and a car park.
