KFH signs US$242m real estate deal in Chicago

KUWAIT: Kuwait Finance House (KFH), the country’s biggest Islamic lender, said it signed a US$242 million (US$1 = RM3.42) real estate deal in Chicago.

KFH owns 95 per cent of the project, the remaining 5 per cent is owned by Prism Co.

“KFH will focus on income producing assets with attractive yields and guaranteed occupancy levels,” it said.

In August, the lender said it was tying up with US apartment building owner UDR Inc to buy high income property in the US.
The joint venture seeks to acquire investments of up to US$450 million in major cities in the US.

By Reuters