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Taleem REIT Fund — Capital/Financing Update 2022
Feb 15, 2022
53445_rns_2022-02-15_79a47414-ade0-4552-a77f-6dd7eab1de84.html
Capital/Financing Update
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Announcement by Saudi Fransi Capital regarding the occurrence of a specific event in Taleem REIT Fund
4333 · 15/02/2022 15:39:04 · Announcement #66709 · View on Saudi Exchange
Announcement by Saudi Fransi Capital regarding the occurrence of a specific event in Taleem REIT Fund
4333
TALEEM REIT
0.40 %
1443/07/14 15/02/2022 15:39:04
| Element List | Explanation |
|---|---|
| Introduction | Saudi Fransi Capital in its capacity as the Fund Manager of Taleem REIT announces the completion of an acquisition of a portfolio of four educational properties on 13/02/2022G. Details of the purchase are provided below. |
| Description of the Event | - The portfolio comprises of three kindergartens located in the city of Riyadh and one school located in the city of Dammam. The total land area of the portfolio is 19,424.72 square meters with a total built-up area of 30,266.10 square meters. |
- The total purchase price of this acquisition is SAR 148.5 million, reflecting an average yield of 8.4%
- The acquisition was financed through Shariah-compliant loan facility
- All four properties are leased to Alkhaleej Training and Education Company as a triple-net lease with an average remaining lease term of 17.6 years.
- The Fund will pay a brokerage fee in respect of this acquisition The Impact Caused by the Event The financial impact of this transaction is expected to be positive on the Fund's results.
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.