QFBQ: Opening Price: 1.868 | High: 1.91 | Low: 1.868 | Closing Price: 1.892 | Volume: 1,361,281 | 0.793 % NEWS: Qatar First Bank Achieves the highest half yearly Net Profit of QAR 41 million over the last 5 years
News
24 May 2021

Qatar First Bank Acquires Phase 1 of a Healthcare Technology Company Headquarters in Ohio

The new acquisition marks Qatar First Bank’s 7th investment in the Unites States, and confirms the Bank’s commitment to increasing its presence in the American real estate market as part of its investment diversification strategy.

Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange (QSE: QFBQ) has announced the acquisition of phase 1 of Healthcare technology company Headquarters in Columbus, Ohio in the USA.

The new acquisition marks QFB’s 7th sharia compliant real estate investment in the Unites States and comes as a significant addition to the Bank’s presence in the US real estate market following QFB’s latest acquisitions of 90 North Campus (T-Mobile) building in Washington, BSN Sports HQ building (Varsity Brands) in Texas, The Grand 2 at Papago Park Center in Arizona, and Waterway Plaza I in Texas.

The newly acquired property is a fully built-to-suit 218,000 square foot trophy office building completed in 2021 with 100% leased on a 10-year NNN lease. The QFB-acquired building will serve as the first phase of the corporate campus for Healthcare technology company, with the second phase planned to be completed by the fourth quarter of 2022.

Commenting on the new acquisition, Mr. Ayman Zaidan – Deputy CEO and Chief Investment Officer at QFB, said:

“I am delighted to see QFB expands its footprint in the US real estate market and to see the Bank getting recognized on the international scene as a credible and reputable outfit operating on par with other players. QFB’s reputation is in the US real estate market with brokers and our partners is increasingly that of a bank that commits to buy when it pursues deals and delivers on its promises. Thanks to the whole team at QFB and all of our partners who work tirelessly to make our long-term business strategy a reality. This particular addition is spectacular and will enhance QFB’s structured investment offering to its investors.”

Mr. Alexandre Bernassau, QFB’s Head of Investment added:

“The acquisition of this trophy asset is a landmark deal for QFB and an architectural landmark as well for the city of Columbus, Ohio. It is one amazing addition of which I am particularly proud and one that will further cement the Bank’s reputation as an international level playing actor on the US real estate investment scene. Like QFB’s other buildings, all of which serve as Headquarters for their tenants, this first phase of the campus is a fantastic addition to our sharia-compliant real estate investment portfolio providing investors (and the Bank) with stable cash flows and recurring dividends.”

QFB will continue to source diligently and to hand pick what the bank believes to be some of the most profitable investment opportunities in the US and beyond. QFB aims to remain the leading sharia-compliant investment partner for local and regional investors wishing to invest internationally and domestically.

This investment opportunity is offered on private placement basis to qualified investors meeting the investment eligibility requirements in accordance with the rules and regulatory requirements of QFC Regulatory Authority (QFCRA).