UK: Rasmala, a London investment manager for Gulf-based investors has acquired a 68 per cent stake in Orchard Apartments.
Orchard is an owner, operator and developer of serviced apartments in the UK. PSM Partners, a specialist investment firm, retains the balance of the shares in Orchard.
Rasmala and PSM will work with the management team at Orchard to further grow the company in the coming years.
Harris Irfan, the co-head of investment banking at Rasmala, said: “The UK corporate serviced apartments market presents promising investment opportunities for investors with the right mix of expertise and financing capabilities. This transaction will enable the group to diversify its growing real estate portfolio and tap into a wide array of real estate assets offering stable income and attractive growth prospects.”
Peter Strafford, co-managing partner at PSM, said: “Over the last two years, both Rasmala and PSM have built a solid track record in the UK real estate and serviced apartments sectors, respectively. We look forward to combining the market-leading sector experience of PSM with the real estate and financial expertise of Rasmala.”
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