stratreal and qatar national bank announce closing and full investment of prime 1 international portfolio
Strategic Real Estate Advisors (StratREAL), the independent real estate wealth manager and asset manager has today announced that the Prime 1 International Real Estate Portfolio has been fully invested ahead of schedule with a target gross value of USD 200 million.
Prime 1 International Real Estate Portfolio (Prime 1) was launched as a private joint venture between Qatar National Bank (QNB) and it’s subsidiary Ansbacher Private Banking Group and StratREAL. The structure of the Prime 1 was designed for those Gulf investors that are looking for diversification outside their home markets.
The Prime 1 objective is to invest in real estate in the primary global markets directly and via co-investing through StratREAL and its real estate relationships with a focus on UK, Europe and US. It offers investors the opportunity to diversify their assets and obtain access to international real estate markets.
The Prime 1 has been constructed to produce income in addition to development profit. The portfolio consists of 5.3 million square feet and has a diversified portfolio across investment and development assets and real estate sectors.
Due to the success of Prime I International Real Estate Fund, the launch of Prime II International Real Estate Fund is underway. These real estate portfolios are just the first stage in a programme of portfolios that StratREAL plan to launch with QNB and Ansbacher.
Pierre Rolin, Chairman of StratREAL added:
“StratREAL has been involved with Qatar National Bank and it’s subsidiary Ansbacher for a number of years. The relationship has come in direct response to the willingness of Qatari private institutions and individuals to invest in international real estate. We will be looking to launch Prime II International Real Estate Portfolio in the coming months and will be talking to potential investors and developers in due course.”
Jeremy Gates, Managing Director of StratREAL said:
“We are delighted to announce the full investment of the Prime I International Real Estate Portfolio, this is on a Global basis with a diversified portfolio construction. The investments were made ahead of our original investment programme due to the opportunities we are able to access off market through our long term relationships.”
The Prime 1 International Real Estate Portfolio has invested in the following 5 properties:
• Regents Park
Joint venture to acquire land and the potential future development of a 43 unit residential condominium in the upmarket Buckhead neighbourhood of Atlanta, Georgia.
• Lindberg office and retail co-investment
Lindbergh City Center, an outstanding mixed-use, transit-oriented complex, located in Atlanta, Georgia. The complex has been under development for nine years, and will ultimately contain over 4.5 million square feet of office, residential and retail space.
• Piedmont medical office
Joint venture to develop the Piedmont West One Medical Office Building, a 250,000 square foot, nine-storey medical office building, located in Atlanta, Georgia. This is the first phase of a mixed-use development which will ultimately contain two medical office buildings, a hotel, support retail, and parking.
• Duncan
Duncan Distribution Center is a 350,000 square foot warehouse building located in Duncan, South Carolina. Sitting approximately half way between Greenville and Spartanburg, the property is located in one of the Southeast’s fastest developing industrial corridors, Upstate South Carolina.
• Luxembourg Portfolio
Acquisition of a portfolio consisting of three freehold properties, two logistics properties in Grevenmacher and an office building in Mamer.
