Mumtalakat Holding Company, a Bahraini sovereign wealth fund, announced a partnership with Regent Properties, a real estate developer and investor based in the US, to acquire an interest in its numerous real estate assets in the US, reported Arabian Business.
Regent’s portfolio of real estate assets is worth approximately $250 million and comprises of office buildings in Phoenix, Arizona, Dallas and Texas areas, according to Business Wire.
Regent’s existing investors include affiliates of BlackRock, CAM Capital, and other well-known endowments and pension funds, reported Trade Arabia.
Mumtalakat’s investment will provide attractive cash yields and solid rent growth from various industries.
“We are delighted to be partnering with Regent Properties. They have assembled a unique commercial real estate portfolio in markets that provide us with a very attractive risk/reward profile,” said Mahmood Hashem Alkooheji, CEO of Mumtalakat.
“This transaction, our third investment in the US in less than two years, is in line with our ongoing strategy to partner with reputable international businesses looking for growth capital with a long-term investment horizon,” Alkooheji added.
Mumtalakat’s mandate is to expand Bahrain’s wealth through long-term investment based on solid financial, strategic and governance principles. Currently, Mumtalakat has stakes in 40 commercial enterprises spanning a broad range of sectors.