Mubasher: Global Investment House announced that its real estate asset management team has completed the sale of a property in the UK, according to a recent statement.
This real estate asset is owned by Global’s clients within the UK National Commercial Real Estate Programme.
Global noted that the sale of this property has generated a total return of 23.6%, in addition to an internal rate of return of 10.55% of which the income element represented 9.3% per annum.
Kuwait’s Global is a regional Kuwait-based Asset Management and Investment Banking firm with offices in major capital markets in the MENA region
“The acquisition of the property was concluded in September 2015 in partnership with Greenridge Investment Management Limited (Greenridge), an expert in the UK’s regional property market that enjoys a solid track record of delivering outperforming returns in all stages of the market cycle,” Global said.
Head of Global’s Real Estate Asset Management Nasser Faisal Al-Khaled said: “We are delighted with this sale. It reflects an excellent return for our clients when compared to the level of risk and the average return on real estate investment in general in light of Brexit implications and current economic uncertainty."
