Riyad REIT Fund — Capital/Financing Update 2021

Aug 16, 2021

Announcement by Riyad Capital Regarding the Occurrence of a Specific Event in Riyad REIT (Investing SAR 60 million in a headquarter office building in the United States of America)

4330 · 16/08/2021 08:06:41 · Announcement #64553 · View on Saudi Exchange

Announcement by Riyad Capital Regarding the Occurrence of a Specific Event in Riyad REIT (Investing SAR 60 million in a headquarter office building in the United States of America)

4330

RIYAD REIT

-2.71 %

1443/01/08     16/08/2021 08:06:41

Element List	Explanation
Description of the Event	Riyad Capital has announced that Riyad REIT has invested SAR 60 million in a U.S. office building on land area of 14,892 square meters (plus approximately 1,394 parking spaces) and net leasable area of 39,867 square meters located in Conshohocken (Philadelphia MSA), Pennsylvania, United States of America.

The Property is AmerisourceBergen Global HQ, a Class A office which is the headquarters of one of the largest global companies in the world. AmerisourceBergen, is an investment-grade tenant that is ranked no. 8 on Fortune 500. The Company is also one of the largest pharmaceutical distributors in the world handling over 30 percent of the world’s pharmaceuticals and generating revenues of nearly $190 billion. This is an essential sector, especially in the post-COVID era that requires significant distribution of pharmaceutical products and vaccines.

The Property is located in close proximity to many entertainment and activity destinations including King of Prussia Mall (the third largest mall in the US), Gulph Mills Golf Club and other destinations. The immediate area also includes major companies such as, Amazon, UBS, Mercyhealth, Oracle, Morgan Stanley, Credit Suisse and other large corporations.

The investment is funded from the Shariah-compliant facilities available to Riyad REIT. The Impact Caused by the Event The investment is expected to generate an average annual yield of 8% to Riyad REIT over a 5-year investment period.

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.