Sidra Capital seals $206m deal for US industrial portfolio

Updated 14 November 2019

Sidra Capital seals $206m deal for US industrial portfolio

Sidra Capital, a GCC-based Shariah-compliant asset manager, has completed its second US industrial real estate acquisition with a deal worth $206 million. The portfolio comprises 30 fully occupied single tenant net-leased assets spread across 15 key states.
The portfolio benefits from a roster of strong mid-market and large companies, which have occupied their respective assets for an average of 27 years. With a weighted average unexpired lease in excess of 13 years, the portfolio is expected to deliver strong and stable cash yield for the investment hold period.
“The outlook for the US industrial real estate market is extremely positive with expectations of being one of the most profitable markets in the country, amid low vacancy rates of under five percent. With the continued integration of logistics and retail, low interest rates, growing demand and evolving trend of manufacturing on-shoring, the US industrial real estate sector will remain resilient and offer opportunities for growth and re-leveraging and enhancing of industrial assets’ value,” said Vice Chairman of Sidra Capital Hani Baothman.
The purchase of this portfolio follows the aggregation of a portfolio of six US student accommodation assets and the acquisition of a site occupied by Sainsburys in the UK earlier this year. These acquisitions have increased Sidra Capital’s total AUM (assets under management) to $2 billion, of which over $800 million is in the US.


Signify expands UV-C disinfection portfolio to meet demand

Updated 12 July 2020

Signify expands UV-C disinfection portfolio to meet demand

Signify, a global professional and consumer lighting brand, is increasing its UV-C lighting production capacity and expanding its UV-C product portfolio. The company is leveraging more than 35 years of expertise in UV-C lighting to address the growing global need for the disinfection of air, surfaces and objects. 

“By increasing capacity and broadening the UV-C portfolio, Signify is helping keep people safe in a world that’s adjusting to a new normal,” the company said.

Its UV-C lighting is well-proven and trusted as an effective disinfectant. This was recently validated in a laboratory test by Boston University, showing that Signify’s UV-C light sources inactivate the virus that causes COVID-19 in a matter of seconds. This is crucial as it comes at a time when organizations are seeking ways to continue operations and provide service in a safe environment.

Signify’s new UV-C product range includes luminaires and chambers for a wide variety of professional applications. “We have introduced 12 families of UV-C lighting fixtures specifically designed to disinfect air, surfaces and objects. These products target different customer segments ranging from offices, schools, gyms, retail stores, warehouses, as well as on public transport,” said Harsh Chitale, leader of Signify’s Digital Solutions division. 

Part of the range are UV-C fixtures that are ideal for the deep disinfection of surfaces in offices, schools and restrooms. They are equipped with sensors and controls to ensure that they only operate when people and animals are not present. Other products include mobile, freestanding UV-C luminaires that can be wheeled into a hotel room or used to disinfect surfaces on public transport such as buses and trains. 

For the disinfection of objects, Signify launched a range of safe and quick-to-use UV-C disinfection chambers. These chambers are used in offices and municipal buildings to disinfect visitor tags, phones, bags, laptops and wallets in a matter of seconds. In stores they are ideal for disinfecting returned items, glasses or clothes tried on in a changing room. 

UV-C fixtures can also be used inside surface disinfection tunnels. In North America, a large retailer is piloting a UV-C tunnel for disinfecting shopping trolleys. In India, a hotel plans to use a Signify UV-C tunnel for disinfecting guests’ bags at check-in. 

To complement its portfolio, Signify recently acquired the assets of Germicidal Lamps & Applications (GLA), a small, Netherlands-based company with extensive expertise in UV-C disinfection solutions. The deal includes GLA’s upper-room UV-C air disinfection portfolio as well as deep application knowledge. 

“The assets and know-how acquired from GLA will help us to accelerate the development of our roadmap of UV-C based upper-room air disinfection systems. We plan to make these products available across the world soon,” said Paul Peeters, leader of Signify’s Digital Solutions Europe.

The upper-room air disinfection luminaires can be used with people in the room, as they are installed at a height which, in combination with shielding and optics, prevents exposure to the UV-C light source. Air in the upper part of the room is constantly disinfected using UV-C irradiation and natural convection of airflow in the room. This makes these perfect for use in schools, offices, gyms, retail outlets and other high-contact areas.