Riyadh – Mubasher: Riyad REIT Fund has pumped SAR 233 million worth of investment in a US logistics portfolio comprising five Class A properties.

The assets are fully leased to senior tenants for an average duration of 15.5 years, fund manager Riyad Capital announced on Monday.

The properties, spanning a total land plot of 4.5 million square feet, are located in the Southeast of the US in Missouri, Texas, South Carolina, and Alabama. This part of the US is considered the fastest growing region in the country while being an industrial and logistics hub.

The five properties are rented to Amazon, Lowe’s, and Techtronic Industries. Riyad Capital noted that the investment would result in an average annual yield of 7.5% to the REIT fund over four years.