The Riyad Real Estate Investment Trust (Reit) Fund has made a SAR60 million (US$16 million investment in an office complex based in the US.
The property is located in Pennsylvania and currently serves as the headquarters for pharmaceutical distributor Amerisource Bergen.
The investment will be made over five years and will be sourced from Riyad Capital’s sharia-compliant facilities.
According to Riyad Capital, the deal is expected to the produce an annual return of 8% to the fund.
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