Mubasher: The First Investor (TFI) Qatar, a subsidiary of Barwa Bank Group, on Sunday said that it has acquired a prestigious new office building in one of the key business areas in Frankfurt, Germany.
The asset is a unique addition to the fully-fledged sharia compliant TFI Euro Income Fund "The Fund", which was launched in 2017, according to the company’s statement.
“The new property is a stand-alone office building situated in Neu-isenburg in Frankfurt’s Main District, a freehold asset occupied by high-grade tenants on long lease basis,” the statement added.
TFI gave no further details on the value of the new takeover.
“Building on its strategic joint venture with INOVALIS REIT, a listed real estate fund, the First Investor is pleased to bring to bear an alliance based on focus and determination to maintain our prime position in Qatar as the leading Islamic investment company,” TFI CEO Houssam Kharbotli said.
As part of its strategy, the investment banking arm of Qatar’s Barwa Bank eyes helping clients achieve their objectives in a very challenging business environment.
In 2018, TFI targets further expansions through establishing another UK Income Fund (2) and a US Income Fund together, according to the data.