Saudi Sidra Capital invests in US student properties

Saudi Arabia-based Shari’ah-compliant financial services company Sidra Capital has added a multi-state group of seven USA student housing properties to its globally diversified real estate portfolio, a statement said on Monday.

The properties are serving the University of Alabama in Tuscaloosa, Alabama; Florida Atlantic University in Boca Raton, Florida; Ferris State University in Big Rapids, Michigan; University at Buffalo in Amherst, New York; Penn State University in State College, Pennsylvania; and Texas State University in San Marcos, Texas.

In total Sidra has acquired 2,058 beds across the six states, the statement said, adding that Sidra Capital’s US investments comprises of 21 assets and forms a part of the company’s international real estate activities, which include acquisitions in the UK, Europe and Australasia.