Pinnacle was acquired by Arcapita Bank B.S.C.(c)
Arcapita Bank B.S.C.(c), a leading international investment firm headquartered in Bahrain, and its affiliates have completed the acquisition of Pinnacle Real Estate.
Muhannad Abulhasan, head of Arcapita’s European real estate business, commented as follows: “With its growing footprint in Central and Eastern Europe, we are very pleased to have added Pinnacle to our European real estate portfolio. Pinnacle has quickly built up an attractive mix of yielding and developmental assets to become a dominant developer in what we believe are high growth markets with excellent further appetite for modern and well situated warehousing and distribution facilities. Pinnacle also fits well with our existing portfolio of West European logistics warehouses, and takes our total European investment into this sector to over €1.4 billion, representing a total of approximately 2 million square meters of developed and developable warehouse space.
Martin Carr, a founder and Chief Executive of Pinnacle, commented: “We are very pleased to be in partnership with Arcapita as we develop this business. With their track record in the sector, and our shared belief in the opportunity for further growth, they are a valuable long term shareholder that will be fully involved in supporting our plans for growth.” About Arcapita Headquartered in Bahrain with offices in Atlanta, London and Singapore, Arcapita’s four principal lines of business are corporate investment, real estate investment, asset-based investment and venture capital. To date, the Bank has completed 66 transactions with a total value of almost $23 billion and has an equity capital base of $1.1 billion. Arcapita’s mission is to provide innovative and distinctive investment opportunities that generate superior risk-adjusted returns while adhering to Islamic principles.
Full details of Arcapita can be found at www.arcapita.com