Arcapita Bank, an international investment firm headquartered in Bahrain, has announced the execution of definitive agreements to sell three real estate portfolios in the United States to ProLogis for an aggregate transaction value of about $800 million. The financial closing is expected to take place in January 2006. Arcapita and its co-investors acquired 71 properties comprising the three portfolios in three different transactions in April, June and September 2001. The properties consist of recently built, fully leased industrial distribution facilities, located in key distribution markets across the United States. “The three ProLogis portfolios have generated excellent returns for Arcapita and our investors. With this transaction, we’ve completed five real estate exits during 2005, with an aggregate transaction value of $1.1 billion,” Arcapita’s CEO Atif Abdulmalik said. “As a result of these exits, we’ve been able to return about $420 million to our clients across the GCC, demonstrating the continued strength of our real estate line of business.
