ARC Real Estate Income Fund Taps King & Spalding For $359 Million Exit Transaction

Thursday, December 31, 2015 - 14:51

RIYADH, December 2015 — King & Spalding advised the ARC Real Estate Income Fund in the successful sale of its entire real estate portfolio in a transaction valued at SAR1.35 billion (US$359 million). The fund’s sponsors are Al Rajhi Capital Company and RA Bahrain B.S.C.(c) (formerly known as Arcapita Bank).

Since its inception in 2010, the fund acquired assets in the logistics, retail and warehousing sectors in United Arab Emirates and Saudi Arabia. In the last two years, the fund delivered an average annualized yield of 7.2 percent and distributed an annual yield in excess of 9 percent, with approximately 18 percent growth in net asset value.

The King & Spalding team on the sale transaction was led by New York and Dubai partner Benjamin Newland and included Dubai and Riyadh partner Nabil Issa and Abu Dhabi counsel Moustafa Said. All are members of the firm’s Middle East and Islamic Finance Group.

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