ARZAN WEALTH SUCCESSFULLY SELLS ANOTHER PROPERTY FROM “SINGLE TENANT PORTFOLIO” IN USA
11 November 2019 – Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has successfully advised its clients on the sale of a fourth property (“The Property”) from the Single Tenant Portfolio in USA.
The Single Tenant Portfolio was acquired in June 2017, consisting of 6 single-tenant net-leased buildings with a total of 760,533 sq ft, located in 6 states in the US, and sectorally diversified with healthcare, industrial, and office assets, and with tenants that enjoy strong credit ratings and reputations in their markets.
The sold property is an industrial facility located at 8029 Dixie Highway in Florence, Boone County, Kentucky. The facility currently totals 191,215 SF of office and industrial space. Since 1972, the property has served as the headquarters of SWECO, a wholly-owned subsidiary of Schlumberger (NYSE: SLB), the world’s largest oilfield services company
The Portfolio was acquired as part of Arzan Wealth’s yielding asset advisory platform with an objective of producing an average annual yield of 8.50% to investors, and an IRR of around 10% over a three-year holding period. The sale of the SWECO asset is consistent with Arzan Wealth’s original strategy of identifying opportunities to break up the portfolio by selling off some of the assets, while enhancing value in the others. With this asset we have now advised on exists of four assets from this portfolio and ten overall, reflecting our continued approach to not only identify and advise on properties that provide regular income but also profitable exits to investors.
Arzan Wealth acted as the Sub Strategic Advisor on the structuring and sale of the properties and will continue in this role during the remaining holding period of the remaining assets.
Muhannad Abulhasan, CEO of Arzan Wealth said:
“We are pleased that once again, we have been able to meet the return expectations of investors. This successful transaction exemplifies the prudent approach of Arzan Wealth in terms of market selection and asset quality and reinforces our primary strategy to preserve and protect the wealth of investors, while producing an attractive and predictable monthly income. Our track record, with a total of ten asset sales, proves that investors who chose to invest in all deals Arzan Wealth has advised on have benefited from this conservative approach, and will have achieved an average IRR, net of taxes and fees, of ~14% per annum, which is inclusive of an average monthly yield equal to ~8.25% per annum.”
Notes to Editors
About Arzan Wealth (DIFC) Limited
Arzan Wealth is an investment advisory firm registered at the Dubai International Financial Centre (DIFC), and is regulated by the Dubai Financial Services Authority (DFSA). Arzan Wealth currently advises various professional clients on real estate, private equity and other investments with a total value of assets advised around US$ 1.89 Billion. Arzan Wealth focuses on arranging yielding investments in major global markets, as well as bespoke investments that meet the requirements of specific clients.
Past or projected performance is not necessarily a reliable indicator of future results.