Riyad REIT Fund — Capital/Financing Update 2021

Nov 10, 2021

Announcement by Riyad Capital regarding a Material Development of Riyad REIT (Making a Profit from the sale of a Real Estate Asset in the USA)

4330 · 10/11/2021 08:17:36 · Announcement #65576 · View on Saudi Exchange

Announcement by Riyad Capital regarding a Material Development of Riyad REIT (Making a Profit from the sale of a Real Estate Asset in the USA)

4330

RIYAD REIT

-2.71 %

1443/04/05     10/11/2021 08:17:36

Element List	Explanation
Description of the Event	Riyad Capital (the “Fund Manager”) has announced the completion of the exit of Riyad REIT from an investment in a real estate asset in the United States of America (Two Washingtonian Building, Washington D.C. Metro Area), with a total return (ROI) of 51% and an internal rate of return (IRR) of 24.4%.

The returns included approximately 9.9% of annual cash dividends starting from the inception of the investment on December 8, 2019, in addition to capital gains of about 36%.

It is worth noting that in December 2019, Riyad REIT invested SAR 350.8 million in a diversified real estate portfolio in the United States of America consisting of three Class-A real estate assets, and the investment in the Two Washingtonian offering is equivalent to SAR 52,508,513.

The Property is 100% leased to Leidos Holding (an investment grade Fortune 500 company considered one of the largest government contractors) under a 13-year lease. The 27,287-square-meter property is located in the Washington metropolitan area within the Biotechnology Cluster - one of the best biotechnology clusters in the United States.

Since 2019, Riyad REIT has invested a total of SAR 675 million in a series of international property offerings in the U.S. and Europe. The Impact Caused by the Event As a result of the sale of the real estate asset, Riyad REIT achieved an additional net profit of SAR 0.11 per unit.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.