Property sold to Knight Frank Investment Management on behalf of institutional Korean investors

London, Dubai: Rasmala Investment Bank Limited (‘Rasmala’), a leading alternative investment firm, and Kamco Invest today announced the sale of a major logistics facility in Scotland, United Kingdom for GBP 63 million (USD 81 million). The property was sold to Knight Frank Investment Management on behalf of institutional Korean investors. Rasmala and Kamco Invest were co-investment advisers on this transaction.

The property is one of the largest logistics facilities operated by Amazon UK Services Limited in the United Kingdom, extending over an area of more than 1 million square feet and it was purpose-built for Amazon in a key strategic location in close proximity to the main transport networks in Edinburgh.

Commenting on the sale, Eric Swats, Senior Executive Officer of Rasmala said: “We are pleased to announce the sale of this Amazon asset and delighted that our investors have achieved targeted returns. This exit is testimony to the resilience of our real estate portfolio, made up of high-quality income-producing assets that have performed well through the COVID-19 crisis.”

He added: “We remain focused on creating value for our investors and are actively looking to strengthen our real estate portfolio through strategic investments that are likely to benefit from the consumption and production trends that have emerged.”

Rasmala invests in real estate assets in a variety of segments including residential, commercial and social infrastructure, with a focus on opportunities in the United Kingdom, mainland Europe and the United States.

The firm recently announced the sale of two Amazon logistics assets in Dortmund, Germany for USD 155 million.

Ric Crane, Partner at Knight Frank Investment Management commented: “This is our fifteenth acquisition for Korean clients, which we are delighted to have acquired off-market. The asset is well positioned to deliver strong future performance for the investors. We continue to seek assets with similar investment characteristics in the UK, Ireland and Continental Europe.”

Mohammad Al-Othman, Executive Director of Real Estate Investments at Kamco Invest commented: “This marks another successful exit on behalf of our valued clients, builds on our full cycle track record and solidifies our position as a leading player in the income generating commercial real estate market managing a portfolio of Grade “A” international commercial properties in US, UK and Europe valued at USD1.12bn. The exit in such unstable market conditions due to COVID-19 and its impact on global economies only reaffirms our solid real estate investment strategy.”

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