Gulf Islamic Investments acquires US office portfolio for $100mln

Gulf Islamic Investments acquires US office portfolio for $100mln

Gulf Islamic Investments (GII), a leading shari’ah-compliant global financial services firm, has announced that it has acquired the Glen Forest Office Portfolio; a best-in-class, core-plus suburban office development in Virginia, US, for $100 million. The acquisition is GII’s first in Virginia, thus bringing the value of the firm’s US real estate assets unde management (AUM) to over $350 million and a total AUM of $3 billion. The Glen Forest Office Portfolio (Portfolio) consists of eleven-buildings strategically situated on an 85-acre campus between Glenside Drive, Forest Avenue, and Interstate 64 in Richmond. The Richmond metropolitan area is 110 miles from Washington, DC and considered one of America’s strongest office sub-markets and routinely ranks among the top 50 cities for living, work and travel in the US. Mohammed Alhassan, Founding Partner and Co-CEO of GII, said: "The successful acquisition of the Glen Forest Office Portfolio marks a significant milestone in the GII growth story as we strategically advance our real estate footprint in the US." "Our investment in the Portfolio amply demonstrates GII’s diligence and vigilance when it comes to curating exceptional investment opportunities that provide attractive returns for our investors. As we head into 2022, GII is ready to embark on