Saudi company invests just under $16 million in SORA West in Conshohocken

Saudi Arabia-based Riyad Capital announced earlier this week that Riyad REIT Fund has invested just under $16 million (SAR 60 million) in SORA West, the new office building in Conshohocken that will be the corporate headquarters of AmerisourceBergen.

According to the announcement, the investment is funded from the Shariah-compliant facilities available to Riyad REIT. The investment is expected to generate an average annual yield of 8% to the fund over a five-year investment period.

In February it was announced that a majority stake in the building was sold to a Washington D.C. real estate investment management company.

Photo: Keystone Property Group