US: A Class A office and retail property in the Fulton market of Chicago secured a Shariah compliant junior funding worth US$94.7 million, with Kamco Invest acting as the strategic adviser for the transaction. The project entails the development of a vacant plot of land into offices and retail space, and has been 39.2% pre-leased.
The deal offers two exit strategies, either through refinancing or property sale, and the financing is further supported by a regional US bank and a leading international insurance company, according to Kamco Invest.
Categories:
Asset ManagementRestricted Access
Login to continue reading (existing subscriber)
Subscribe NOW and get:
- Gain unlimited access through all key operating platforms
- Full access to all listed Islamic funds & fund profiles
- Unlimited access to all Islamic fund managers
- Access to all exclusive articles, reports, podcasts & videos
- Complimentary access to all IFN Investor Forums
