Kuwait-owned Gatehouse Bank, a Shariah compliant investment bank based in London, has announced a deal to buy an office building in Salt Lake City, Utah.
Gatehouse, whose parent company is the Securities House in Kuwait, said in a statement that it has completed the acquisition of the 163,000 sq ft building which is expected to provide "stable and healthy yield".
The property is 100 percent leased to the General Services Administration (GSA) for a fixed term of 20 years. Gatehouse did not give a value for the property deal.
The GSA is the procurement agency for the US Federal government, and provides various government agencies with world-class sustainable facilities.
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