Alkhabeer Capital, a leading asset management and investment firm based in Saudi Arabia, and authorized by the Capital Market Authority, together with its investment partner, USAA Real Estate Company have announced the acquisition of Lake Pointe Center III and IV. This investment is the latest transaction of Alkhabeer US Real Estate Income Fund (Private Placement Fund).

Lake Pointe Center III and IV is a 170,147 square feet core and class A office portfolio, located in the Allison Pointe Office Park in Keystone, Indianapolis in the State of Indiana. This office portfolio consists of two four-story buildings that are leased to a high quality tenant roaster comprising IT, medical, transportation and legal firms with four renowned blue chip tenants together leasing approximately two thirds of the space.

Indianapolis is the thriving capital of the state of Indiana and the eleventh largest city in the United States. The city attracts high quality tenants willing to pay high rents due to its stable and diversified economy, superior infrastructure, great quality of life and relative low cost of living.

Ammar Shata, Alkhabeer’s executive director and CEO, commented: “I am delighted to be announcing our third joint investment with USAA Real Estate Company. The joint acquisition of Lake Pointe III and IV adds substantially to our US fund’s portfolio. Indianapolis is an economic powerhouse in the Midwest.”

USAA Real Estate President & CEO Len O’Donnell said: “It is a privilege to once again partner with Alkhabeer Capital on this exceptional investment opportunity. Within Indianapolis, Keystone is undoubtedly the premier commercial and real estate hub. Its strategic location links a highly educated work force to exceptional retail, residential and commercial facilities — Lake Pointe provides an excellent opportunity to exploit these unique characteristics.”