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FINANCIAL NEWS
Bahrain’s Arcapita sells USD640m U.S. real estate portfolio
10 Jun 2015
(MENAFN) Arcapita, Bahrain’s Islamic investment company, announced selling its USD640 million US-based portfolio of retirement communities to NorthStar Healthcare Income Trust, Reuters reported.
The portfolio is constituted from 16 departments and 4,000 housing units for ongoing senior care. In addition, it recorded a tremendous growth by 41 percent in net profit from 2010 till 2014.
“This transaction represents Arcapita’s fifth successful exit in the senior living sector, which continues to benefit from favorable long-term fundamentals,” Arcapita’s chief executive officer said.
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