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Gatehouse Bank acquires US industrial real estate portfolio

Posted on 04 December 2012

Gatehouse Bank plc (Gatehouse), a Shariah compliant bank based in the City of London, has completed the acquisition of a diverse industrial portfolio of 19 operationally critical properties across the United States of America. The portfolio is stabilised at 100% occupancy, and the properties are leased to 16 tenants with an average remaining lease term of 14 years.
The $178 million portfolio was acquired in partnership with the Brennan Investment Group (BIG). The properties, located in 16 cities across the Midwest, Northeast, Southeast and Southwest regions of the U.S., will be held for approximately five years, offering investors a stable projected net annual cash yield as well as an attractive IRR upon exit from the investment………………………………………..Full Article: Source

 
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