Arcapita completes sale of its interests in senior care facilities exceeding initial target returns
- Bahrain: Monday, January 07 - 2013 at 10:45
- PRESS RELEASE
Arcapita Bank B.S.C.(c) announced the sale of its and its investors' 80% interest in five senior housing facilities in suburban London.
Atif A. Abdulmalik, Arcapita's Chief Executive Officer, said "The investments have benefited from favorable demographics and their geographic proximity to London. Despite a number of challenges presented by the recent economic slowdown in the United Kingdom, Arcapita's real estate team worked effectively with our joint venture partner to enhance the performance of the portfolio, delivering approximately 2.8 times cash on cash return for our investors over the holding period of the investment and exceeding initial target returns. This excellent outcome demonstrates Arcapita's asset management capabilities and ability to deliver profitable exits under its current circumstances."
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