Saudi-UK £100m fund closes cambridge property deal
A new Saudi-UK £100 million fund has closed its first real estate deal with a property acquisition in the Cambridge cluster for £23.55m.
Sidra Capital, a CMA regulated Shariah compliant financial services company based in Saudi Arabia and Gatehouse Bank, an FSA regulated UK-based Shariah compliant bank specialising in UK real estate, have formed The Sterling United Kingdom Real Estate Fund (SURF).
SURF aims to complete purchases in the Shariah compliant commercial real estate in the UK. The fund will acquire a diverse real estate portfolio which covers the office, retail, logistics, student accommodation and light industrial sectors, to reach its target equity size of £100m …