Rasmala, an investment management group, has acquired a business office complex in the UK in partnership with Gulf Islamic Investments (GII), a UAE-based Islamic financial services company, and other investors.

The Celtic Springs Business Park is located in Newport, 12 miles northeast of Cardiff, and includes three Grade A office buildings and covers a total area of 153,323 sq ft (14,244 sq m). The properties are entirely let to Airbus Defence and Space, a division of Airbus Group.

Rasmala’s origination and structuring teams worked in close collaboration with the placement team at GII to close the transaction, a statement said.

The campus, including an additional plot of development land, was acquired for approximately GBP30 million ($43.5 million). Part of the acquisition price is expected be financed through a Shari’a-compliant facility.

Rasmala and GII have plans to acquire real estate assets in the UK, Europe and US in 2016, the statement added. – TradeArabia News Service