Saudi-based Arbah Capital has announced its investors’ acquisition of the Commonwealth Campus, a $59m high income-producing diversified medical campus in Port Richmond, Philadelphia, United States.
The Campus includes prominent tenants such as Ambrosia Treatment Centers Group, Temple Health University, and Northeastern Partners.
Arbah, a financial investment company licensed by the Saudi Capital Market Authority, said it was able to secure the acquisition at a significant discount to the market valuation carried out by the US CBRE Group, providing further security to its investors.
Philadelphia is known as a medical and education hub and 1/5 of all US physicians have trained there.
The property itself has undergone more than $23m in recent refurbishment including a brand new building on site, which will open as a new outpatient facility for Ambrosia, and a wellbeing center, which is due to open in January 2021.
Arbah CEO Mahmood al-Kooheji has stated that the company’s main strategy is to find the right growth sectors for its investors and organize the investments in these sectors with leading partners who have a proven track record.
Arbah’s reputation and professionalism attract prominent partners to offer investments with added-value to its investors, he added.
The company is very proud to have once again found and executed such an excellent investment in a growing sector and with the best partner, Hampshire Stateside.
Hampshire Companies manage more than 270 properties and have Assets Under Management (AUM) of over $2.4bn in the US.
This investment reflects Arbah’s strategy of acquiring distinctive assets within excellent locations in defensive sectors like social infrastructure and industrial real estate, reflecting its investment strategy in finding exclusive high-quality opportunities for its investors, Kooheji noted.
