Another large group is buying in Indianapolis - The MidWest is still going strong!
Jeddah, Saudi Arabia, 25 August 2014 - Alkhabeer Capital, a leading asset management and investment firm based in Saudi Arabia, and authorized by the Capital Market Authority (license number 07074-37), together with its investment partner, USAA Real Estate Company have today announced the acquisition of Lake Pointe Center III and IV. This investment is the latest transaction of Alkhabeer US Real Estate Income Fund (Private Placement Fund).
Lake Pointe Center III and IV is a 170,147 square-foot core and class A office portfolio, located in the Allison Pointe Office Park in Keystone, Indianapolis in the State of Indiana. This office portfolio consists of two four-story buildings that are leased to a high quality tenant roaster comprised of IT, Medical, Transportation and Legal firms with four renowned blue chip tenants together leasing approximately two thirds of the space.
Indianapolis is the thriving capital of the state of Indiana and the eleventh largest city in the United States. The city attracts high quality tenants willing to pay high rents due to its stable and diversified economy, superior infrastructure, great quality of life and relative low cost of living.
Ammar Shata, Alkhabeer's Executive Director & Chief Executive Officer commented:
"I am delighted to be announcing our third joint investment with USAA Real Estate Company. The joint acquisition of Lake Pointe III and IV adds substantially to our US fund's portfolio. Indianapolis is an economic powerhouse in the Midwest. It is an ideal city for us to invest in and its commercial real estate market is especially robust. A growing number of major employers are located in the city, and we have identified a significant upside in future rental growth."
USAA Real Estate President & CEO, Len O'Donnell commented:
"It is a privilege to once again partner with Alkhabeer Capital on this exceptional investment opportunity. Within Indianapolis, Keystone is undoubtedly the premier commercial and real estate hub. Its strategic location links a highly educated workforce to exceptional retail, residential and commercial facilities - Lake Pointe provides an excellent opportunity to exploit these unique characteristics."
About Alkhabeer CapitalAlkhabeer Capital is a leading asset management & investment firm providing world-class investment products and services that endeavors to help institutions, family groups and qualified investors access to and/or allocate capital in ways that deliver real and enduring economic value.
It is licensed by Saudi Arabia's Capital Market Authority (CMA) license # 07074-37. The asset management area provides investment opportunities through a large and growing portfolio of public and private funds in the areas of real estate, private equity and capital markets, while the investment banking area offers specialized Sharia compliant capital raising and M&A advisory services to businesses, private investors and families.
Alkhabeer Capital has offices in Jeddah and Riyadh.
For more details on Alkhabeer Capital, please visit www.alkhabeer.com
About USAA Real Estate CompanyUSAA Real Estate Company, with approximately $12 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit