Al Imtiaz Investment’s unit invests in $5mln asset in US

The associate may realise cash returns of 25.64% annually

  

Mubasher: A subsidiary of Al Imtiaz Investment Group has invested in a property valued at $4.88 million (KWD 1.48 million) in the US.

The investment is an office building situated in California’s Roseville city, according to a filing to Boursa Kuwait on Monday.

The subsidiary is expected to realise annual cash returns of 25.64%, approximately, as well as an internal rate of return (IRR) of 28.82% once it exits the nine-year investment.

The parent company's share will be calculated based on the net profit from this investment which will be equivalent to its 67.76% ownership in the subsidiary.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.