Tuesday 03, January 2017 by Isla MacFarlane

Rasmala buys stake in UK serviced apartments company

Rasmala has acquired a 68 per cent controlling stake in Orchard Apartments, an owner, operator and developer of boutique corporate serviced apartments in the UK.

Rasmala has acquired a 68 per cent controlling stake in Orchard Apartments, an owner, operator and developer of boutique corporate serviced apartments in the UK.

Rasmala said the acquisition is a move towards growing its assets under management and expanding its alternative investment offerings.

“The UK corporate serviced apartments market presents promising investment opportunities for investors with the right mix of expertise and financing capabilities,” said Harris Irfan, Co-Head of Investment Banking at Rasmala. “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."

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