Doha, Qatar: QInvest, Qatar’s leading investment group and one of the world’s most prominent Islamic financial institutions, yesterday announced the successful exit from a US residential real estate project realizing a 43% return on investment. In September 2021, QInvest participated (in the form of preferred equity) in developing a Class A multi-family residential real estate project located within the city limits of Fort Worth, Texas, USA. QInvest has now successfully exited the project, realizing an attractive return on its investment.
The project, 'Vantage at Burleson', was completed in Q1 2024 and is comprised of 288 rental units (consisting of 1, 2 and 3-bedroom apartments) with approx. 250k of leasable square feet. The site is located in the sought-after and growing Burleson suburb located 15 miles south of Fort Worth. With a population growth rate of 2.78% annually and growth of 36.23% from 2010 to 2020, Burleson is quickly growing into one of Fort Worth’s most prominent suburbs.
Burleson is a well-known and highly ranked school district, and the project benefits from excellent transport links connecting residents to the newly built and ever-growing Chisholm Trail Parkway with multiple easily accessible thoroughfares to travel north to Fort Worth and south into downtown Burleson. Due to the high ranked school district, proximity to Fort Worth, and employment opportunities, this area of the Dallas Forth Worth Metroplex should continue to see growth for years to come.
The Vantage development provides residents with facilities such as a resort-style pool; gym; coffee lounge; business centre (with remote workspaces and private conference room); community area; Wi-Fi; pet parks; outdoor entertainment centres; on-site storage units; covered parking and garages; and ride share facility.
Hussein Fakhreddine, Acting CEO of QInvest, said: “The exit timing and return achieved on this investment is a testament of our ability to deliver superior results despite the challenges witnessed in the global investment market.”
The sponsor of the development was APEX Capital Investments Corporation and the developer of the Vantage at Burleson was Clermont. Dimah Capital Investment Company was a co-investor alongside QInvest.
