Riyad REIT Fund Buys US Southeast Logistics Portfolio
Posted on 01/03/2022
Riyad REIT Fund is managed by Saudi Arabia’s Riyad Capital. Riyad REIT Fund invested 233 million riyals (US$ 62 million) in a U.S. Logistics portfolio consisting of five logistics properties. The built-to-suit logistics are totaling over 4.5 million square feet across the Southeast U.S. Riyad REIT is a closed-ended Shariah-compliant real estate investment traded fund. It acquires, maintains, owns, and develops a portfolio of income-producing real estate assets.
In November 2021, Riyad REIT exited its investment in an office building in Washington D.C. called Two Washingtonian. The property is 100 percent leased to Leidos Holding, under a 13-year lease. Two Washingtonian Center is located at 9737 Washingtonian Blvd in MD, Gaithersburg, 20878. The investment in the Two Washingtonian offering is equivalent to 52,508,513 riyals. Leidos, formerly known as Science Applications International Corporation, is an American defense, aviation, information technology, and biomedical research company headquartered in Reston, Virginia, that provides scientific, engineering, systems integration, and technical services.