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Tue 9 Jul 2013 01:54 PM

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Bahrain investment firm buys $50m UK assets

Tadhamon Capital announces plans to invest in care home, student accommodation

Bahrain investment firm buys $50m UK assets
Bahrain-based Sharia compliant investment firm Tadhamon Capital has acquired real estate assets in the UK valued at £32m. (Photo for illustrative purposes only)

Bahrain-based Sharia compliant investment firm Tadhamon Capital has acquired real estate assets in the UK valued at £32m ($50m).

The first transaction is for the £26m purchase of the 251-bed Brunswick House student accommodation scheme in Cambridge and is part of an existing relationship with McLaren Properties. The accommodation opened in 2012 and is at 100 percent occupancy.

The second acquisition, between Tadhamon and Maria Mallaband Care Group, is to forward fund a £6.7m, 53-bed care home in Buckinghamshire, which will provide premium healthcare for residents requiring dementia, nursing and residential care. Tadhamon said it is also considering three other developments in south-east Britain, which will provide 184 beds and are valued at £21m.

"Both transactions will enjoy the privilege of distributing cash yield to its investors/shareholders with an attractive investment return at the exit,” said Waleed Abdulla Rashdan, CEO of Tadhamon Capital.

“We are firm in our belief in these alternative real estate sectors as drivers of real value to our investors and will continue to source and structure deals within sectors of the UK economy which have exhibited robustness in light of the recent global economic turmoil,” he added.

The purchases take the total value of assets purchased under its social infrastructure platform in the UK to $190m.

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