RIYADH: The Riyad real estate investment trust saw an additional profit of SR0.12 ($0.03) per unit after it exited an investment in the US, fund manager, Riyad Capital, said in a bourse filing.
With a return on investment of 57 percent, the real estate asset sale is expected to have a positive impact on the fund’s financial results for the first half of 2022.
The property, encompassing an area of 11,808 square meters, is 98 percent leased to the city of San Francisco, California, and 2 percent leased to Starbucks for a 14-year term.
Since 2019, Saudi-based Riyad REIT has injected a total of SR910 million in real estate investments across the US and Europe.
