The Ultris at Banyan Grove is a Class A, multifamily community comprising of 13 buildings with 288 units. Built in 2003, this apartment community boasts spacious floor plans and a full spectrum of community amenities. Centrally located in Virginia Beach, Ultris at Banyan Grove provides convenient access to the Oceanfront area and many of the employment centers throughout Hampton Roads.
Mr. Shaheen Hamad Al Ghanem, Warba Bank’s CEOAbout the Bank’s new partnership with Bentall Kennedy, Mr. Shaheen Hamad Al Ghanem, Warba Bank’s CEO said: “Our cooperation with Bentall Kennedy has been fruitful and this remarkable acquisition is a continuation of a long-term cooperation between us. It is in-line with the Bank’s vigorous international real estate investment program and fulfils our strategy aiming to income diversification and growth of the Bank’s investment portfolio.”
Al Ghanem further elaborated that the new acquired residential complex is located in a market with low volatility and strong demand for rental housing. It is expected to provide steady income returns throughout the investment period. He added: “Warba Bank aims to expand its real-estate portfolio in the USA promising markets and is currently studying a number of opportunities guaranteed to provide rewarding income and complies with the Bank’s prime policy for investment and risk criteria”.
Al-Ghanem ended: “Investment Banking Group at Warba Bank is fully committed to make risk mitigated investments strictly following investment policies and procedures with the target of generating long term secured returns for the Bank and its investors”.
Previously this year, Warba bank has acquired, in collaboration with Bentall Kennedy, the ManpowerGroup Headquarters, a 280,000-square foot office building in Milwaukee, Wisconsin.
Previously this year, Warba bank has launched its international real estate investment’s program by acquiring a new KIA motors facility in UK. It’s marked with its strategic location in the Industrial Keln Lanek, only a mile and a half from Amenigham which is renown to have the biggest seaports in the United Kingdom along with Grimsby.