Amsterdam
CBRE Global Investors Closes Shariah Compliant Financing
25 Sep 2019
CBRE Global Investors has secured a Shariah Compliant financing for the Sports Direct National Distribution Centre in the UK. The 60% loan to value facility has been arranged with Standard Chartered Bank for a term of five years.
CBRE Global Investors also entered into a fixed rate Shariah Compliant profit rate swap with Standard Chartered Bank for the underlying financing to fix the yield for their client.
The 1.8 million sq. ft. Sports Direct headquarters and National Distribution Centre, Derbyshire was acquired in June 2019. It is one of the largest logistics sale and leaseback deal completed in the UK to date and was acquired on behalf of an international separate account client.
In Europe, CBRE Global Investors manages a loan book of €6.5 billion and circa €2.8 billion of derivatives covering 17 countries in with eight different currencies and 91 facilities. CBRE Global Investors closes on average 25 deals per annum.
The strong network of relationships CBRE Global Investors has with financial institutions assisted them in securing this Shariah Compliant Financing. With the increasing number of Asian and Middle Eastern investors requiring Shariah Compliant investments and financing, this is another example of CBRE Global Investors offering a full client solution package.
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $106.7 billion in assets under management* as of June 30, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2018 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.
CBRE Global Investors also entered into a fixed rate Shariah Compliant profit rate swap with Standard Chartered Bank for the underlying financing to fix the yield for their client.
The 1.8 million sq. ft. Sports Direct headquarters and National Distribution Centre, Derbyshire was acquired in June 2019. It is one of the largest logistics sale and leaseback deal completed in the UK to date and was acquired on behalf of an international separate account client.
In Europe, CBRE Global Investors manages a loan book of €6.5 billion and circa €2.8 billion of derivatives covering 17 countries in with eight different currencies and 91 facilities. CBRE Global Investors closes on average 25 deals per annum.
The strong network of relationships CBRE Global Investors has with financial institutions assisted them in securing this Shariah Compliant Financing. With the increasing number of Asian and Middle Eastern investors requiring Shariah Compliant investments and financing, this is another example of CBRE Global Investors offering a full client solution package.
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $106.7 billion in assets under management* as of June 30, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2018 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.