Qatar First Bank (QFB) has announced the successful exit of Jefferson Square, its first syndicated real estate investment located in the heart of Baltimore, Maryland, USA.
QFB acquired Jefferson Square, a class A multifamily residential building, in June 2017 as part of its Sharia compliant real estate investment program, Qatari media reports said.
Jefferson Square marks the second US real estate exit for QFB following the successful exit of Kennedy Flats, Connecticut in October 2021. The property is one of the few class A multifamily residential properties in central Baltimore with more than 300 apartments and in close proximity to John Hopkins University making it a very attractive investment opportunity for the bank in the year 2017.
The anticipated holding period for this investment was five years, however, QFB considered the favorable US Real Estate market outlook and decided to exit earlier. QFB shall be returning capital with profit to investors generating more than 8% IRR for its investors.
Qatar First Bank exits its first real estate investment in Baltimore
- QFB acquired Jefferson Square, a class A multifamily residential building, in June 2017 as part of its Sharia compliant real estate investment program.
- Jefferson Square marks the second US real estate exit for QFB following the successful exit of Kennedy Flats, Connecticut in October 2021.