Nov 18 2012
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GBP80 million Saudi - UK fund distributes second round of dividends to investors
Sterling UK Real Estate Fund distributes higher than expected net dividend of 7.0% annualised
The latest dividends distribution maintains the threshold set in the first round of distribution in June of 7.0% net annualised, higher than the Fund's targeted dividend of 6.5% per annum. The distribution was made from income generated by SURF's previous acquisitions; namely the
Co-operative Distribution Unit, Huntingdon, Cambridge, TDG Distribution Centre in Glasgow and its latest acquisition of Adobe Systems Inc. EMEA Headquarters in Maidenhead, which was completed in September 2012.
To-date, the Fund's total portfolio size stands at approximately £80,000,000.
Ammar Zahran, Chairman of the Board of Directors of Al Murjan Holdings and a significant investor in SURF expressed his pleasure on the return distributed by SURF. "Given the conservative investment strategy adopted by the fund, the distributed return is indeed commendable. I have complete confidence in SURF's investment team and look forward to future returns as they look to acquire additional properties."
© Press Release 2012
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