Riyad REIT has exited its investment in an office building in Washington DC, according to a bourse filing.

Riyad Capital said the real estate investment trust had completed its exit in Two Washingtonian, in the Washington DC Metro Area, USA, with a return on investment (ROI) of 51 percent and an internal rate of return of 24.4 percent.

The statement to the Saudi Stock Exchange Tadawul said the company had invested SAR 350.8 million in a diversified real estate portfolio in December 2019, with the Two Washingtonian offering equivalent to SAR 52,508,513.

The property is 100 percent leased to Leidos Holding, under a 13-year lease.

The company has invested SAR 675 million in properties in the USA and Europe since 2019.

(Writing by Imogen Lillywhite; editing by  Seban Scaria)

Imogen.lillywhite@refinitiv.com 

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