Arzan Wealth, a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, has announced that it had played a major role in the sale of a global research and testing laboratory campus of Pharmaceutical Product Development (PPD) located in the university town of Madison, Wisconsin, US.

 

The PPD asset was acquired in March-2017 as part of Arzan Wealth's yielding asset platform with an objective of producing an average annual yield of 8.8% to investors, and an IRR of around 10% over a five-year holding period. 

 

The Class A, 233,694 sq ft medical lab was then leased to PPD, a world-leading contract research organization (CRO) providing chemistry, manufacturing and controls (CMC) laboratory services for all phases of drug development. 

 

As it is mission critical to their US-based operations, PPD has been a long-term and expanding tenant at this property since it was built in 1996.

 

Arzan Wealth said it had advised on the exit of this investment, generating a net IRR that was comfortably ahead of the target for investors, inclusive of the 8.80% per annum monthly yield payments that were distributed during the holding period of 4.3 years.

 

"I am very pleased that we have been able to continue our track record of profitable exits on behalf of our clients, and in exceeding the returns projected to investors on this transaction," remarked CEO Muhannad Abulhasan. 

 

"I would like to congratulate our valued clients who put their trust in Arzan Wealth and invested into the PPD asset. We are grateful for their trust and confidence in Arzan Wealth, and we look forward to being able to fulfill the investors’ long-term investment objectives with new opportunities," he added.-TradeArabia News Service