With a projected IRR of over 24% per annum, the deal was structured to provide investors with downside protection and an average cash coupon of 8% per annum over a three-year holding period.
TAIB Bank is the exclusive Placement Agent for the project.
Acacia's JV Partner is Logix Group, a prominent Noida-based real estate development and asset management company that has developed over 4 million square feet of office space for over 25 projects in Noida alone.
It is ranked among the top two developers of IT office facilities in the region.
The property, located in Sector 127 along the Greater Noida Expressway, consists of four newly built Grade 'A' Office Towers with a total Gross Leasable Area of 461,120 square feet.
It is 100% occupied and currently leased to such strong tenants as Oracle, Mentor Graphics, Conexant Systems and SafeNet InfoTech.
Mr. Iqbal Mamdani, Executive Committee Board Member of Acacia, as well as the CEO and Vice Chairman of TAIB Bank, commented, "We are proud to be able to offer our clients this unique opportunity to invest in India's real estate market. This deal provides investors with a secured return and upside potential in one of the fastest growing IT markets in India. I'm also very pleased that our first real estate deal in India is with a highly reputed partner who has an excellent track record."
Browse
related articles
ACACIA lands first deal in India
- Bahrain: Monday, March 03 - 2008 at 13:43
- PRESS RELEASE
Acacia Real Estate Limited, the real estate company that Bahrain-based TAIB Bank spearheaded in December 2006, today announced that it acquired 49% of Logix TechnoPark, an Information Technology Park in Noida - a master planned city adjacent to India's national capital, Delhi. Total acquisition cost was $69m.
Related stories
Also consider reading:
Digg
Facebook
LinkedIn
Twitter
Browse
related articles
Log in to request more information from TAIB Bank
Notes and media contacts
About AcaciaAcacia is a newly formed investment company derived from TAIB Bank's real estate investment division with authorized share capital of $500m. Acacia invests in residential, retail, commercial, industrial and hotel properties globally, relying on its extensive network of strategic partnerships built over the last 20 years. These partners have significant experience in dealing with large real estate transactions across diversified real estate asset classes. Acacia's focus is on both income-generating and development-oriented real estate investment. It has acquired the income- generating real estate business of TAIB, including its real estate team and existing relationships with strategic partners. It presently invests in the U.S. ,Europe and India, and is now pursuing opportunities in China, Turkey and other emerging markets. As of 31st December 2007, assets under management totaled $1.2bn.
About TAIB
The Bahrain-based private bank that focuses on seizing regional investment opportunities for institutions and private clients, is listed on the Bahrain Stock Exchange and conducts business in the GCC, Europe, India, Kazakhstan, Turkey, the U.K. and the U.S.
For additional information, please contact
Shaima Aseeri, Media Communications Manager:
(973) 17-549-454.
Posted by Eman HassanMonday, March 03 - 2008 at 13:43 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Disclaimer:
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
It looks like you are using a Mac - check out our 
Web Feeds