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News : Lesha Bank Acquires Phase II of Company Headquarters in Ohio

The new acquisition follows phase I of the Campus acquired in May 2021 as part of the Bank’s investment diversification strategy.

Lesha Bank L.L.C (Public) (“Lesha Bank” or the “Bank”), announced the acquisition of phase II of a Company Headquarters (the “Campus”), situated in Columbus Ohio in the US. This comes following the successful acquisition of phase 1 of the campus in May 2021, as part of the Bank’s strategic focus of expanding in the US real estate market.

The Campus is the second phase of the two-building property just completed in October 2022. The SMART designed building is a fully build-to-suit 200,000 square foot trophy office with striking architecture. It aims to be one of a handful of buildings in the US to achieve both LEED and WELL platinum certifications. The building is 100% leased on a long-term basis. The tenant is an American company operating in the health information technology sector, the parent company of which is a Fortune 100 company.

This deal marks the Bank’s 12th Shari’a-compliant real estate acquisition in the US since its first purchase of a multi-family residential building in 2017. The acquisition of this Campus reaffirms the Bank’s ambition to investing in the US. Going forward, Lesha Bank intends to leverage its position for further growth and penetration in this sector.

HE Sheik Faisal bin Thani Al Thani, Lesha Bank Chairman commented: “We take pride in the acquisition of this trophy asset, another significant milestone in Lesha Bank’s continuous efforts to build on its Shari’a-compliant real estate investment portfolio. The acquisition is a solid validation of our strategy in acquiring high quality assets aligning with Lesha Bank’s aim to invest in premium, income-producing assets in the US market.”

Mr. Abdulrahman Totonji, Lesha Bank CEO added: “We are very happy with the acquisition of this landmark deal, which is an architectural landmark for the city of Columbus, Ohio. At Lesha Bank, we are committed to diligently sourcing investment opportunities in the US and beyond with the aim to support the needs of our investors”.

Lesha Bank L.L.C (Public) formerly known as Qatar First Bank is the first independent Shari’a-compliant Bank authorized by the QFC Regulatory Authority (QFCRA) and a listed entity on the Qatar Stock Exchange (QSE: QFBQ).

 

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