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.


Hyundai launches new i30 N in South Africa

Updated 19 February 2020

Hyundai launches new i30 N in South Africa

Hyundai Motors has increased its presence in South Africa by launching its first mass-produced high-performance car — i30 N — last week in Cape Town. 

The first model of the N brand, the i30 N is Hyundai’s first high-performance car, which has been developed with a key focus on its race-track capability and its ability to be a fun-to-drive everyday sports car. 

“Advanced technology and a high level of driver customization has been built into the i30 N, which means it can play the role of a comfort-oriented commuter as well as a race-track ready performance car,” the automaker said.

The i30 N has a 1,998 cc, four-cylinder turbocharged petrol engine, with its maximum power output of 202 kW reached at 6,000 r/minute, while maximum torque is achieved from 1,500 to 4 700 r/minute. 

The power is delivered to the front wheels of the i30 N through a six-speed manual gearbox and has five different drive modes: Eco, Normal, Sport, N and N Custom, which can be accessed through two dedicated buttons on the car’s steering wheel. 

The i30 N has a rev matching function built-in to adjust the engine revolutions when the driver shifts from a higher to a lower gear, thereby ensuring smooth gear shifting. The dual muffler exhaust sounds add to the pleasure of commanding a high-performance vehicle.

Speaking at the launch, Niall Lynch, CEO of Hyundai Automotive South, said: “The i30 N is one of the most exciting cars Hyundai has made in the recent years highlighting Hyundai’s talented designers and engineers who are always setting new standards.

“It is a high-performance car meant to deliver a fun driving experience and I have no doubt there’s a bright future in store for the Hyundai i30 N in South Africa. It has already been described as a ‘game changer’ with more than 20,000 units sold across Europe since we started trading in 2017.”

The i30 N has stylish 19-inch wheels with 235/35R19 Pirelli P-Zero high-performance tires and red brake callipers featuring the N-logo. Aggressive bumpers with larger air intakes and a red character line, an aerodynamic rear spoiler with a triangular brake light, and a dual muffler exhaust complete the sleek, sporty look.

The i30 N also features the electronically controlled suspension (ECS) and electronically controlled limited-slip differential, which ensures an exhilarating drive with cornering capabilities that befits the i30 N’s hot-hatch character.

Customers can choose from five color options — Polar White, Performance Blue, Micron Grey, Phantom Black and Engine Red.

Hyundai plans to launch the i30 N model in the Middle East toward the end of 2020.