Riyadh - Mubasher: Riyad Capital, the fund manager of Riyad REIT, has completed the sale of Riyad International Real Estate (IV) in Texas, the US, according to a bourse filing.
Riyad REIT invested SAR 45 million in the property during 2020, while the net sale proceeds attributable to the fund amount to SAR 54 million.
In addition, the fund received cumulative distributions from the property throughout the holding period of approximately SAR 13 million, representing 29% of the original investment cost.
Total proceeds from the investment reached SAR 67 million, generating a total return on investment (ROI) of 48% to the fund.
Meanwhile, the disposal is expected to enhance the fund's liquidity position.
Riyad Capital intends to deploy the proceeds across several strategic initiatives aimed at strengthening the fund's financial position.
