VOL. XLV
No 13
1-April-2002
GENERAL
First Islamic Launches New US Real Estate Offering
First Islamic Investment Bank (FIIB) announced on 25 March that it had formed a joint venture with Sunrise First Assisted Living Inc of the US which has acquired interests in 12 properties worth $203.4mn. In a statement, the bank explained that the joint-venture vehicle, Sunrise First Assisted Living Holdings LLC, had acquired lease (ijara) interests in 940 residential units in key assisted living markets such...
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