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Saudi Company Acquires US Medical Campus

Saudi Company Acquires US Medical Campus
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Saudi Company Acquires US Medical Campus

Saudi Company Acquires US Medical Campus

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.

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Firm Dollar Keeps Pound, Euro and Yen Under Pressure

US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
TT
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Firm Dollar Keeps Pound, Euro and Yen Under Pressure

US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo

The US dollar charged ahead on Thursday, underpinned by rising Treasury yields, putting the yen, sterling and euro under pressure near multi-month lows amid the shifting threat of tariffs.

The focus for markets in 2025 has been on US President-elect Donald Trump's agenda as he steps back into the White House on Jan. 20, with analysts expecting his policies to both bolster growth and add to price pressures, according to Reuters.

CNN on Wednesday reported that Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries. On Monday, the Washington Post said Trump was looking at more nuanced tariffs, which he later denied.

Concerns that policies introduced by the Trump administration could reignite inflation has led bond yields higher, with the yield on the benchmark 10-year US Treasury note hitting 4.73% on Wednesday, its highest since April 25. It was at 4.6709% on Thursday.

"Trump's shifting narrative on tariffs has undoubtedly had an effect on USD. It seems this capriciousness is something markets will have to adapt to over the coming four years," said Kieran Williams, head of Asia FX at InTouch Capital Markets.

The bond market selloff has left the dollar standing tall and casting a shadow on the currency market.

Among the most affected was the pound, which was headed for its biggest three-day drop in nearly two years.

Sterling slid to $1.2239 on Thursday, its weakest since November 2023, even as British government bond yields hit multi-year highs.

Ordinarily, higher gilt yields would support the pound, but not in this case.

The sell-off in UK government bond markets resumed on Thursday, with 10-year and 30-year gilt yields jumping again in early trading, as confidence in Britain's fiscal outlook deteriorates.

"Such a simultaneous sell-off in currency and bonds is rather unusual for a G10 country," said Michael Pfister, FX analyst at Commerzbank.

"It seems to be the culmination of a development that began several months ago. The new Labour government's approval ratings are at record lows just a few months after the election, and business and consumer sentiment is severely depressed."

Sterling was last down about 0.69% at $1.2282.

The euro also eased, albeit less than the pound, to $1.0302, lurking close to the two-year low it hit last week as investors remain worried the single currency may fall to the key $1 mark this year due to tariff uncertainties.

The yen hovered near the key 160 per dollar mark that led to Tokyo intervening in the market last July, after it touched a near six-month low of 158.55 on Wednesday.

Though it strengthened a bit on the day and was last at 158.15 per dollar. That all left the dollar index, which measures the US currency against six other units, up 0.15% and at 109.18, just shy of the two-year high it touched last week.

Also in the mix were the Federal Reserve minutes of its December meeting, released on Wednesday, which showed the central bank flagged new inflation concerns and officials saw a rising risk the incoming administration's plans may slow economic growth and raise unemployment.

With US markets closed on Thursday, the spotlight will be on Friday's payrolls report as investors parse through data to gauge when the Fed will next cut rates.