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Dubai United Arab Emirates
Amanat Holdings has made a net cash return of 294 million UAE dirhams ($80 million) from the sale of the real estate assets of North London Collegiate School in Dubai for AED453 million.
According to the company, the transaction has delivered an unlevered cash-on-cash multiple of 1.7x and an internal rate of return of 10%.
Amanat’s total investment in the asset stood at AED 393 million, which includes AED 360 million in acquisition price paid in June 2018, followed by a capital expansion of AED 33 million.
The proceeds from the transaction will be deployed in new opportunities, with a strong focus on scaling high-performing assets, CEO John Ireland said.
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