| SEATTLE -Monday, October 16th 2017 [ AETOS Wire ]
(BUSINESS WIRE)-- Today, Bentall Kennedy announced its acquisition of a 7
story, 223,000 square foot single tenant office building , on behalf of Warba
Bank K.S.C.P. The recently completed building is located in Englewood,
Colorado and adjacent to the Dry Creek Light Rail Station. The building is
expected to become LEED Silver Certified (pending). This acquisition
represents the third such investment that Bentall Kennedy has made as
Warba Bank’s real estate investment advisor in 2017, and a significant
addition to the firm’s growing portfolio in the U.S. real estate market.
This investment in the Denver metropolitan area boasts views of the Rocky
Mountains and is situated within a 1.5 mile radius from outstanding retail
and restaurant amenities. The modern design of the building, completed in
2017, features open-concept floor plans with column-free rectangular
floor-plates, floor to ceiling windows and continuous glass lines. Other in-
building amenities include a fully equipped fitness center, a large full-service
café, and a large parking garage with above standard capacity.
“This acquisition is clearly in line with our favorable outlook on the Denver
market and is strengthened by the growing demand from tenants moving
to this submarket,” said Kevin Rivest, Senior Vice President of Transactions for
Bentall Kennedy. “The newly constructed building is an exceptional
investment for the Partnership and provides a combination of dependable
cash returns and the opportunity for market rental growth in a rapidly
growing US market.”
Bentall Kennedy’s mandate with Warba Bank is intended to span a broad
range of commercial real estate investment types in major U.S. markets.
Warba Bank seeks to acquire properties with strong and stable returns and
the opportunity for modest appreciation. This acquisition brings the total
transaction volume closed by the Partnership to approximately $200M in
2017; and Bentall Kennedy is actively pursuing additional investments on its
behalf.
"We are pleased to continue growing our partnership with Bentall Kennedy,
one of North America’s largest real estate investment advisors, which will
support the expansion of Warba Bank's global real- estate investment
program throughout key U.S. real-estate markets,” said Shaheen Hamad
Al-Ghanem, CEO, Warba Bank. “This exciting acquisition is the continuance
of our long-term cooperation with Bentall Kennedy and is in line with our
strategy of acquiring high quality properties and generating stable income
in dynamic markets. The property is a great addition to our U.S. Real Estate
portfolio."
About Bentall Kennedy
Bentall Kennedy, a Sun Life Investment Management company, is one of
the largest global real estate investment advisors and one of North
America's foremost providers of real estate services. Bentall Kennedy serves
the interests of more than 550 institutional clients with expertise in office,
retail, industrial and multi-residential assets throughout Canada and the
U.S. Bentall Kennedy's Investment Management group has approximately
$46 billion (CAD)/$36 billion (USD) of assets under management (as of June
30, 2017). Bentall Kennedy is also one of the largest real estate services
providers in Canada, managing 58 million square feet on behalf of third-
party and investment management clients (as of June 30, 2017). Bentall
Kennedy is a member of UN PRI and a recognized Responsible Property
Investing leader ranked among the top firms around the globe in the
Global Real Estate Sustainability Benchmark (GRESB) for the seventh
consecutive year since GRESB was launched.
Bentall Kennedy includes Bentall Kennedy (Canada) Limited Partnership,
Bentall Kennedy (U.S.) Limited Partnership and the real estate and
commercial mortgage investment groups of certain of their affiliates, all of
which comprise a team of real estate professionals spanning multiple legal
entities. The assets under management shown above include real estate
equity and mortgage investments of the companies within Bentall
Kennedy. The information in this press release does not constitute an offer to
sell or a solicitation of an offer to buy securities or investment services.
For more information, visit www.bentallkennedy.com
About Warba Bank
Warba Bank was established pursuant to Emiri decree and was officially
registered as an Islamic bank by the Central Bank of Kuwait on 5 April, 2010.
It offers a bundle of integrated services and banking solutions that comply
with the Islamic sharia, and such services are offered through three business
groups, namely, the Retail Banking Group, the Corporate Banking Group
and the Investment Banking Group. The bank has 12 branches in strategic
locations with over 350 employees working under its umbrella in the State of
Kuwait.
For more information, visit: www.warbabank.com
________________________________________
Contacts
Media Contact:
Bentall Kennedy
Rahim Ladha, (m) 416-986-9027
Vice President, Corporate Communications
rladha@bentallkennedy.com
Permalink : http://aetoswire.com/news/4800/en
|
