A portfolio of 6 fully occupied residential properties comprising of student housing complexes and multifamily apartments in the US
In Jan-2014, MENA Capital invested in a diversified Shari’ah compliant real estate investment portfolio comprising of six residential properties within four distinct investments in the United States (student housing complexes in Austin& multi-family apartments in Chicago & Las Vegas) with the objective of capitalizing on the medium term capital appreciation & periodic income returns (8.5% pa distributed quarterly). The multifamily apartments were sold in Feb-2016 and the student housing complexes were sold in Nov-2016 resulting in a net IRR of 18% & total returns of 46% to MENA Capital after a holding period of ~2.9 years.
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