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Warba Bank acquired a residential facility in Dallas, Texas

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Warba Bank adds another investment to its global real-estate investment portfolio in line with its aspirations to becoming a corporate and investment banking champion. This transaction follows the Bank's successful real estate expansion strategy, derived from in-depth research, undertaken by the Investment Banking Group, of the underlying forces that are shaping the global economic and financial market outlook which, in turn, shapes the bank’s asset allocation strategy.

With a view that the real estate market in the United States of America exhibits strong fundamentals with high demand for Class A multifamily units in transient cities, Warba Bank is proud to announce its third real estate acquisition since the beginning of this year in Euless, Texas, a suburb of Dallas, Texas. Warba Bank’s equity investment in Suite 2801, a 417-unit apartment community, amounts to USD 23.46M. Warba Bank’s acquisition came through a joint venture partnership with Cortland Partners, a full-service multifamily real estate acquisition, development, and operating entity.

Commenting on the Bank's third acquisition in the United States of America since the beginning of this year, Mr. Thuwaini Khaled Al-Thuwaini, Deputy Chief Investment Banking Officer, said: "Thanks to Allah, we’re excited to record another milestone under the Bank's global real estate investment programme for the hard efforts of the team at the Investments Banking Group. Warba Bank is keen on identifying viable real estate investment opportunities in view of diversifying the Bank’s sources of income and developing its real estate investment portfolio pursuant to its investment policy and risk appetite”.

Al-Thuwaini emphasized that the Investment Banking Group is exceptionally vigilant to the bank’s risk standards when deploying its investments and fully adheres to its investment policy which aims to ensure long-term, secured risk adjusted returns.

Suite 2801 is a Class “A” community strategically located in the centre of major employment hubs including Dallas, Fort Worth and Arlington, Texas. It is within walking distance of the largest shopping destinations, making it the best option for tenants. It also provides convenient access to DFW International Airport. Built in 2013, the Class “A” property offers 1, 2 and 3-bedroom luxury apartments boasting premium finishes and quality amenities catering to all ages, including swimming pools and a fitness centre.

Since the beginning of 2017, Warba Bank's total real estate investments in the United States have reached USD 70M, equivalent to KD 22M. The Bank has already acquired the headquarters of Manpower Group, an office building in Milwaukee, Wisconsin, and the luxury coastal flats of Ultris in Banyan Grove, Virginia.

Warba Bank launched its global real estate investment programme earlier this year by acquiring a modern facility exclusively dedicated to KIA Motors in the UK, strategically located in Lane Industrial Estate, just 1.5 miles away from Immingham. The ports in Immingham and Grimsby together are the largest in the UK.

Related Places:
Warba Bank - KuwaitWarba Bank - Kuwait

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