VC Bank, Seera buy US real estate portfolio

Manama : Venture Capital Bank BSC (c) and Seera Investment Bank BSC (c) have announced the successful acquisition and completion of the subscription of a real estate portfolio consisting of two multifamily residential assets in Atlanta, Georgia, USA, consisting of 866 units. This investment marks the Consortium’s first investment in the US Multifamily sector.

The Consortium also announced that the performance of the properties in the portfolio for the first quarter has been consistent with the projections and therefore, it was able to distribute the projected yield amounting to an annual cash on cash return of 8.5 per cent, to investors participating in this investment opportunity.