Sidra Capital, the GCC-based Shari’ah-compliant financial services company, has added a multi-state group of seven USA student housing properties to its globally diversified real estate portfolio.

The properties are serving the University of Alabama in Tuscaloosa, Alabama; Florida Atlantic University in Boca Raton, Florida; Ferris State University in Big Rapids, Michigan; University at Buffalo in Amherst, New York; Penn State University in State College, Pennsylvania; and Texas State University in San Marcos, Texas. In total Sidra has acquired 2,058 beds across the six states.

Hani Baothman, Vice Chairman of Sidra Capital commented: “These seven properties consist of a diverse mix of value add and stable income student accommodation, delivering attractive risk-adjusted returns.”

He went on to say: “We remain cautious on the global outlook for real estate after years of steady growth and low interest rates and see our capital moving towards defensive sectors which exhibit stable income with an element of value add. We are still seeing attractive opportunities in certain locations of the US but remain highly selective”.

Sidra Capital’s US investments comprise 21 assets and forms just a share of the company’s international real estate activities, which include acquisitions in the UK, Europe and Australasia