US Islamic commercial real estate fund launched

The fund’s target is to acquire a diversified portfolio of offices and industrial assets located in major US cities using the value add investment strategy. The firms claim that the fund has already made its first acquisition - an office building in San Francisco’s South Financial District.

Derek Weist, acting CEO of IAM, commented: “Following the recent successful sale of the Al Bait UK Real Estate Fund, IAM is delighted to join forces again with GSH in this exciting new venture with the Broe Companies. The US market at this time offers significant potential for those who are able to identify, assess and swiftly complete acquisitions of underperforming real estate with potential for value enhancement.”