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Global fund, $12m US property
- Kuwait: Tuesday, October 03 - 2006 at 12:18
Kuwait-based Global Investment House has paid $12.13m for a medical building in the US for its US Real Estate Fund. St Luke's medical office building in Arizona is the fund's fourth US real estate acquisition. The average yearly income on the acquisition is approximately 5.8%, although the expected cash income for the first year is 5.2%, distributed monthly.
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James McInerney, News EditorTuesday, October 03 - 2006 at 12:18 UAE local time (GMT+4)
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This article was updated on Sun Jan 14 2007.
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