Arcapita, the leading Bahrain-based Shariah compliant investment company, has announced its plans to grow the portfolio of its property investments in the United States to follow and build up on the properties it acquired in 2018, including an industrial portfolio which it acquired in last November that comprised seven properties located in Cleveland, Ohio.
In his comment on the announced plan, Atif Ahmed Abdulmalik, the CEO of Arcapita explained that the company is reviewing a number of potential investment opportunity across the United States including student housing and industrial portfolios. Abdulmalik also added that he is expecting to make two new property deals in the US this year.
The industrial properties acquired by Arcapita in last November span a total area of 655,000 square feet. Other deals the company made last year included a portfolio of senior living homes in Chicago, Illinois. These deals have brought the total value of Arcapita’s assets to around $350m.
On his investment focus in the united states, Abdulmalik said that Arcapita plans to take advantage of the US demographics as the senior citizens are controlling around 70% of the nation’s disposable income.
It is worth mentioning that Arcapita has been operating actively within the United States real estate market ever since 1998.