Baker McKenzie Advised FIM Prime Marina Holding On Its Acquisition Of Nuran Marina
Baker McKenzie Advised FIM Prime Marina Holding On Its Acquisition Of Nuran Marina
The purchase price was AED 133 million
Baker McKenzie has acted as a legal counsel to FIM Prime Marina Holding Ltd on the Sharia-compliant financing of its acquisition of the Nuran Marina serviced residences in Dubai Marina from Eshraq Investments PJSC.
FIM Prime Marina is a special purpose entity wholly owned by a fund managed by FIM Partners that was founded in 2008. FIM Partners is an independent investment management firm with offices in London, Dubai, Riyadh, and Muscat.
The firm specializes in managing investments across various asset classes, including equities, fixed income, and real estate with USD 3 billion in assets under the management.
Leading on the transaction, Adil Hussain, the Partner, and Head of the Banking And Finance Practice at Baker McKenzie, UAE, and global head of Islamic finance remarked, “We are delighted to have been chosen as the legal counsel for FIM Prime Marina Holding in this notable acquisition. It reflects our banking and finance team's commitment to delivering excellence in landmark financing deals."
Fares Bou Atme, the Director of Real Estate at FIM Partners, stated, "It was a pleasure working with the Baker McKenzie team on this exciting transaction. They ensured the financing was delivered in a timely manner. This flagship transaction, given its prime waterfront location in the heart of the Dubai Marina, is a strategic move for us, as we further expand our real estate footprint into the value-add space."
The Baker McKenzie, UAE team advising FIM Prime Marina on local legal aspects of the financing transaction was led by Adil Hussain (Partner) and included Chaya Gupta (Senior Associate).
