London and Dubai, 3 January 2017: Rasmala (‘Rasmala’ or ‘the Group’), an independent investment management group, today announced that it has completed the acquisition of a 68% stake in Orchard Apartments Ltd (‘Orchard’).
Established in 1999, Orchard is a leading owner, operator and developer of boutique corporate serviced apartments in the UK.
PSM Partners LLP (‘PSM’), a specialist investment firm, retains the balance of the shares in Orchard. Rasmala and PSM will work with the management team at Orchard to further grow the company in the coming years.
The acquisition is part of the Group’s strategy to grow assets under management (‘AUMs’) and expand the alternative investment offering by diversifying its real estate portfolio.
Harris Irfan, Co-Head of Investment Banking at Rasmala, commented: “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 the Group to diversify its growing 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 last 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.”
For more information, please contact:
T: +971 (0) 52 649 8556
PSM Partners LLP
T: +44 203 770 7890
About Rasmala www.rasmala2018.wpengine.com
Rasmala is an independent investment management group. Rasmala provides investment management solutions to pension funds, family groups, corporations and government institutions. Rasmala plc is listed on the AIM market of the London Stock Exchange and is authorised and regulated by the Financial Conduct Authority (“FCA”). Rasmala operates regulated entities in the UAE and Egypt.
About PSM Partners www.psm-partners.com
PSM is an investment firm with strong operational capabilities. It is focused on real estate investments with an operational dimension and value investments, across a range of sectors. PSM‘s senior principals have deep expertise and experience across investment activities, real estate and professional services operating activities.