IslamicFinance.de

The Gatehouse Bank plc, a London-based Kuwaiti-owned wholesale Shariah compliant bank, has acquired an industrial US-based real estate portfolio at the cost of USD 155 Million. This portfolio includes 20 industrial properties from the West, Midwest, Northeast, Southeast, and Southwest regions of the U.S. which are leased to 12 tenants with an average remaining lease term of 14 years. The acquisition has been completed in joint venture partnership with the Brennan Investment Group. It is expected that the portfolio will bolster the stability of returns generated by the properties due to its unique diversity of industry, geography, and tenancy.