Glenbridge Manors
Glenbridge Manors

Glenbridge Manors

VCBank and its investors hold a 90 per cent stake in this ‘garden and townhouse-style’ gated community, which comprises 274 apartments set amid scenic landscaping and extensive amenities. Located in one of Cincinnati’s most desirable residential areas, Glenbridge Manors is rated as a grade ‘A-‘ high-quality asset with a superior location. At the date of acquisition, Glenbridge Manors was expected to provide investors with quarterly distributions equating to an annual cash-on-cash return of 8.5 per cent. However, returns were temporarily affected during the second half of fiscal 2020 due to the impact of COVID-19 on occupancy levels and defaults.

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Asset Class:
Real Estate - Income-yielding
Industry:
Real Estate
Country:
USA
Year:
2019
Project Status:
Active
Project managers:
Naser Alnaser Ahmed Hassan Alabbasi

Latest News from Glenbridge Manors

VCBank expands its multifamily property portfolio in USA through recent acquisition in Cincinnati, Ohio

25th June 2019

Venture Capital Bank (VCBank), a Bahrain-based Islamic wholesale bank, licensed from the Central Bank of Bahrain, announced today that it had expanded its multifamily property portfolio in the USA through the acquisition of Glenbridge Manors in Cincinnati, ...

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