Apex has been appointed fund administrator of the Masdar Green REIT, the first REIT in the MENA region to invest solely in sustainable real estate assets, for the provision of fund administration services.
Apex will provide Masdar with an independent and locally delivered suite of fund administration and property level accounting and reporting services, utilising Apex’s eFront and Yardi solutions.
The Masdar Green REIT fund is managed by Masdar Capital Management, a fund manager incorporated in the Abu Dhabi Global Market.
Under the private REIT regime, the Masdar Green REIT offers the opportunity for professional investors to invest in a portfolio of sustainable real estate assets located in Masdar City, and the UAE.
The REIT’s portfolio currently comprises four commercial properties, with an initial third-party valuation of circa £188,039,205 (approximately AED 950,000,000) as of 23 December 2020.
Apex will work in partnership with UAE asset manager, Emirates NBD Asset Management, provider of management services for the initiative.
Glyn Gibbs, regional head of business development for MENA at Apex Group said, “With ESG factors playing an ever-increasing role in investment decision-making, the Masdar Green REIT reflects our commitment to facilitating the flow of capital towards sustainable investment vehicles and assets.”
Anthony Taylor, senior executive officer at Masdar Green REIT, said, “We look forward to working in partnership with Apex as we build a track record for the REIT, providing prospective investors with full confidence in the administration of the fund as they look to invest in sustainable real estate assets.”
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