Kuwait Finance House buys US tower

28 December 2016

New Jersey property is leased for 15 years

A subsidiary of Kuwait Finance House Group has bought an office tower in the US for $165m.

KFH Capital Investment Company has successfully acquired the tower in New Jersey as part of its plans to develop a portfolio of income generating assets.

The property is has 12 floors with total rental space of 337,543 square feet. The building is about 13 kilometres west of Manhattan in New York City.

Construction of the building was completed in late 2013 and it is fully rented by Panasonic Corporation of North America for a period of 15 years that started from last May.

In June this year, Kuwait Finance House said it will finance the construction of 3,000 residential units in Bahrain as part of the Deerat al-Oyoun project at Diyar al-Muharraq.

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