United Arab Emirates – Audacia Capital, is thrilled to announce the successful completion of the acquisition of Cobalt 14, situated in Newcastle Upon Tyne. The acquisition was formally signed on 29th April 2022, with the title transfer and completion occurring on 30th May 2022. Cobalt 14 represents a strategic addition to Audacia Capital’s investment portfolio, offering significant potential for long-term growth and stability. The property boasts a 100% occupancy rate, with North Tyneside Council serving as the esteemed tenant. With a Weighted Average Unexpired Lease Term (WAULT) of 10 years, the asset promises steady and reliable income streams for our investors. To ensure seamless management and administration of Cobalt 14, Audacia Capital has appointed Cushman & Wakefield as the Property Managers and Ocorian as administrators. We are committed to working closely with our partners to streamline operations, enhance communication channels, and facilitate efficient rent distributions. Furthermore, Barclays, our trusted lending partner, has disbursed the required financing, underscoring their confidence in the viability and potential of this investment endeavor. “Our acquisition of Cobalt 14 marks an exciting milestone for Audacia Capital and our investors,” said Emad Mansour, Chief Executive Officer, Audacia Capital “We are enthusiastic about the opportunities this property presents and are dedicated to maximizing its value while delivering exceptional returns for our stakeholders.” Audacia Capital remains steadfast in its commitment to identifying and securing high-quality investment opportunities that generate value and foster growth. We look forward to the continued success and prosperity of Cobalt 14 under our stewardship.
