Rasmala has acquired a 68% stake in serviced apartment developer and operator Orchard Apartments.
PSM Partners, a specialist investment firm, owns the remainder of the Orchard shares.
Orchard Apartments operates 17 locations across London and the Southeast of England and is actively developing and expanding its portfolio
Harris Irfan, co-head of investment banking at Rasmala, said: “The UK corporate serviced apartments market presents promising investment opportunities for investors with the right mix of expertise and financing capabilities. This transaction will enable us to diversify its real estate portfolio and tap into a wide array of real estate assets offering stable income and attractive growth prospects.”
Peter Strafford, co-managing partner at PSM, added: “Over the past two years, both Rasmala and PSM have built a solid track record in the UK real estate and serviced apartments sectors, respectively. We look forward to combining the market-leading sector experience of PSM with the real estate and financial expertise of Rasmala.”
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