PHOTO
Dubai, United Arab Emirates, (AETOSWire): Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised its client on the sale of the Medical Technology Campus of Glaukos Corporation(“The Property”) located in a highly desirable part of Orange County, California, USA, achieving strong returns for investors.
The sold property houses the headquarters offices of Glaukos as well as their primary R&D facilities. The campus consists of three newly refurbished buildings comprising 159,746sft and fully let to Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company focused on novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. Glaukos was the first company to introduce Micro-Invasive Glaucoma Surgery (MIGS), the micro-invasive procedure which revolutionized the treatment and management of glaucoma.
The Property was acquired in June-2020 as part of Arzan Wealth's yielding asset platform with an objective of producing an average annual yield of 9.15% to investors, and an IRR of around 10.7% over a five-year holding period. Arzan Wealth advised on the exit of this investment at a price that far exceeded initial expectations, and which reflected the success of Arzan Wealth in acquiring the asset at a good price in the midst of the coronavirus pandemic, and the ensuing stabilization of capital markets during 2021.
Muhannad Abulhasan, CEO of Arzan Wealth said:
“The Glaukos new HQ campus is a unique opportunity and high-quality asset offering strong cash flows and solid rental growth, making it an attractive long-term asset for the new buyer. We are delighted to have been able to significantly exceed our investors’ expectations in a short holding period, and deliver very strong returns to our loyal investors. This exit, which is one of several profitable divestments Arzan Wealth has achieved during 2021, ensures our commitment to our investors and our dedication to always working hard on their behalf, to maximize returns and to minimize risks. As always, our primary objective at Arzan Wealth continues to be the protection of our clients’ wealth and legacies, by reducing risks and diversifying income sources for them and their future generations”.
About Arzan Wealth (DIFC) Limited
Arzan Wealth is an investment advisory firm registered at the Dubai International Financial Centre (DIFC), and is regulated by the Dubai Financial Services Authority (DFSA). Arzan Wealth currently advises various professional clients on real estate, private equity and other investments with a total value of assets advised around US$ 2.37 Billion. Arzan Wealth focuses on arranging yielding investments in major global markets, as well as bespoke investments that meet the requirements of specific clients. Past or projected performance is not necessarily a reliable indicator of future results. Arzan Wealth (DIFC) Limited accepts no liability for any loss arising from the use of this document or its contents or otherwise arising in connection therewith.
*Source: AETOSWire
Contact:
Ahmad AlSabbrei
Head of Investment Operations
a.alsabbrei@arzanwealth.com
© Press Release 2022
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.