Cor3 Capital and Fairway America Win 2022 Islamic Finance News Deal of the Year Honor

A joint venture between Cor3 Capital and Fairway America has been recognized as the 2022 Islamic Finance News Real Estate Deal of the Year related to the $14.7 million dollar acquisition of Salt Creek Ranch Townhomes in Lubbock County, Texas. Ice Miller's real estate partner, Mike Tirman, represented the joint venture in the structuring, acquisition, and Sharia-compliant financing of the property. The joint venture utilized an Ijara structure to facilitate the transaction.

This deal represents a unique transaction because it consists of both U.S.-based Sharia-compliant investors (individuals and companies) and conventional investors through a private equity fund (investing in a Sharia-compliant manner despite being a U.S.-based private equity fund). 

The Islamic Finance News Deals of the Year Awards were established in 2006 and recognize those who have participated in the industry’s most groundbreaking transactions each year. This year’s award ceremony will take place at the Conrad Hotel in Dubai, UAE, on March 16.  
 

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