"The purpose of this new venture is to enable us to further serve the needs of our customers and expand our full-service capabilities to corporate America," says First Industrial Realty Trust president and CEO Mike Brennan.
It is not the first time the REIT and $8-billion financial institution have teamed up. The two parties joined forces in late 2001 on a $300-million fund.
"Our initial venture with First Industrial has performed exceedingly well," says Kuwait Finance House assistant general manager Mohammed S. Al-Omar.
First Industrial chief financial officer Michael Havala adds returns in the first venture have been higher than expected. "This new venture represents another opportunity for us to earn a high return on invested capital," he says.
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