Qatar First Bank (QFB) announced the successful exit of Jefferson Square, its first syndicated real estate investment located in the heart of Baltimore, Maryland, USA.
QFB acquired Jefferson Square, a class A multifamily residential building, in June 2017 as part of its Shari’a compliant real estate investment program. Jefferson Square marks the second US real estate exit for QFB following the successful exit of Kennedy Flats, Connecticut in October 2021. The property is one of the few class A multifamily residential properties in central Baltimore with more than 300 apartments and in close proximity to John Hopkins University making it a very attractive investment opportunity for the bank in the year 2017.
The anticipated holding period for this investment was five years, however, QFB considered the favorable US Real Estate market outlook and decided to exit earlier. QFB shall be returning capital with profit to investors generating more than 8% IRR for its investors.
Sheikh Faisal bin Thani Al-Thani, Chairman of QFB said: “We are happy to announce the successful exit of our third Shari’a compliant investment in less than five years after acquisition. This is yet another testament to the success of our new business model cementing QFB’s position as the premier choice for US real estate investment in Qatar. As a result of our investment strategy, we have achieved profitable outcomes with a good return and we are committed to continue diversifying our portfolio in…
