Jeddah · Residential
Jeddah Waterfront Lofts
Boutique waterfront building in Jeddah's Corniche, fully leased to corporate tenants for executive housing.
Fully leased
Waterfront
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In pictures
Jeddah Waterfront Lofts
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Key highlights
Investment thesis
Stable cash-flows with corporate master leases and strong tourism infrastructure investments.
Timeline
-
Distribution
Latest monthly distribution at 0.59% net
Nov 2024 -
Stabilized
Achieved target WAULT of 3.8 years
May 2024
FAQs
MVP does not support secondary market; expect capital return at strategic exit.
Financial snapshot
Annual gross rent
7,600,000.000
Net operating income
5,410,000.000
Target IRR
13.2%
Target hold period
4 years
Occupancy
100%
Fee summary
Acquisition fee: 1.0%
Management fee: 1.2%
Exit cap rate: 7.4%
SPV information
Mushaa Waterfront SPV 2
Escrow account: NCB Escrow 55291
Risk summary
Exposure to tourism cycles; mitigated with corporate leases.
Location overview
Corniche Road, Jeddah, Saudi Arabia
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- City & country
- Jeddah, Saudi Arabia
- Asset type
- Residential