'Al Bayt' Divests from Seventh Industrial Real Estate Investment in America
Al Bayt Securities Company completed its divestment from its seventh industrial real estate investment in Denver, valued at $21.2 million with a 31% return.
Translated by Qiyas from السياسة — Original source
Al-Bait Securities Company announced that it has successfully completed the exit from its seventh industrial real estate development investment in the United States, selling the asset for $21.2 million and achieving a total investment return exceeding 31%.
Madi Al-Khamis, Deputy Chief Executive Officer for Investment and Funds, stated that Al-Bait marketed a real estate fund in mid-2022 aimed at developing and operating a Class A industrial property in Denver, Colorado. He added that the success of this exit reflects Al-Bait’s keen vision in seizing the best real estate opportunities in the United States and selecting top strategic partners.
He noted that this exit marks the company’s seventh divestment in the U.S. industrial real estate development sector, with total divestments from industrial real estate fund investments reaching approximately $150 million. These exits yielded an average total return of 30% over an average holding period of just two years and three months, and an average annual internal rate of return of 16%.
Al-Khamis emphasized that the company continues to offer similar opportunities for developing industrial properties in the United States, characterized by short investment horizons of two to three years and attractive returns for investor clients.
