UAE – Mubasher: Dubai-based Rasmala Investment Bank has acquired one of the world’s largest performance coatings research and development facilities in the US for $61 million through its North American real estate income fund.

Located in the Philadelphia Navy Yard complex, the 175,000 square facility is one of the four global innovation centres of Axalta Coating Systems, a leading global coatings provider.

Meanwhile, Rasmala Investment Bank, a wholly-owned subsidiary of Rasmala UK, seeks to acquire more assets in the UK and Netherlands following the sale of two Amazon logistics assets in Germany for EUR 155 million.

The Senior Executive Officer at Rasmala, Eric Swats, said: “We continue to add to our growing and diversified portfolio of high-quality assets and are actively looking for opportunities to deploy a further $1 billion in North America.”

Swats added: “In order to support this activity, we plan to expand our geographic footprint in Europe and the United States.”