Dubai, United Arab Emirates. - Monday, November 2nd 2015 [ME NewsWire]
Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on the acquisition of a newly refurbished downtown retail asset (“the Property”) in Krefeld, Germany. The Property is fully leased to a diverse mix of high-quality retailers under long term leases.
The asset is located in a prime downtown location in the city of Krefeld, which is in the administrative district of Dusseldorf, the sixth largest city in Germany. The multitenanted Property comprises ~21,900 sqm of inner city retail space in a multi-level, completely renovated structure. It provides a secure income stream from a diversified mix of household name retail tenants, including the successful retailer Primark, Toys “R” Us, and Rossmann, Germany’s 2nd largest pharmacy chain, in addition to a gym operator and a self-storage facility.
Arzan Wealth acted as the Strategic Advisor on the structuring and acquisition of the Property, in joint venture with the Investment Advisor, 90 North Real Estate Partners, a strategic partner of Arzan Wealth.
Muhannad Abulhasan, CEO of Arzan Wealth said:
“Arzan Wealth continues to arrange and advise on stable and income producing assets in major global markets. Our Krefeld acquisition offers a unique, city-center urban retail experience in the heart of an important economic center in Germany, the largest national economy in Europe. With this second German transaction, Arzan Wealth reinforces its strategy of seeking high quality deals that are safe, secure and can produce a predictable and attractive monthly income for our clients”.
Notes to Editors
About Arzan Wealth (DIFC) Limited
Arzan Wealth is an investment advisory firm registered at the Dubai International Financial Centre (DIFC), and is regulated by the Dubai Financial Services Authority (DFSA). Arzan Wealth currently advises various professional clients on real estate, private equity and other investments worth a total of just over US$ 1Billion. Arzan Wealth focuses on arranging yielding investments in major global markets, as well as bespoke investments that meet the requirements of specific clients.
About 90 North Real Estate Partners LLP
90 North is an independent investment advisory firm, specialising in socially responsible real estate investment, and with considerable experience working with Shari’ah compliant equity partners. Headquartered in Mayfair, London, 90 North has a US office in Downtown Chicago and a representative office in Kuala Lumpur, Malaysia. Since June 2012, 90 North has closed over US$1Billion (€900 Million/£650 Million) of real estate transactions, working with its equity partners.
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