(MENAFN- The Peninsula) The Peninsula
The First Investor (TFI) Qatar, a subsidiary of Barwa Bank Group and the leading Qatari closed shareholding investment banking firm, completed its acquisition of a commercial asset in the French capital, Paris.
The new acquisition complements TFI's European Fund having a diversified and high-yield income.
The acquisition consists of a freehold commercial office building in Pantin, a dynamic banlieue just on the boundaries of Paris known as the City of Light and the next center of art and culture. High-grade tenants on long lease basis occupy the property. The asset structure is a sharia-compliant and tax efficient.
In addition, the building has multiple of accesses to Central Paris area and well connected through metro and train stations, which are walking distances from the building.
TFI European Fund, launched this year and given the successful closing of two assets in major European cities, TFI continues to pursue further acquisitions over the next few months to grow its presence and achieve high yield return circa 6 percent-7 percent profit rate annually net to investors.
The assets risk base is low as compared with high risks in other low interest rate universe.
The First Investor together with its alliance and partnership with Inovalis France, have growing aspiration to the European markets and therefore continue to identify other quality assets in to take TFI Euro Income Fund to higher level.
In that, Germany and France represent potential hub for foreign companies who may migrate from the UK due to the Brexit.
In addition, France won recently the Olympic votes to hold the next round of the Olympic in 2018. This per se is an encouraging sign to the real estate sector in France.
'The First Investor and together with Inovalis consider assets in key European capitals to be comparatively cheap and that the pace of supply is modest as compared with demand. Therefore, investors and global funds eye more investment especially as Brexit uncertainty prevails and this manifest by recent rise in the Euro currency, said a senior executive at TFI.
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