Saudi asset manager completes $338 million of real estate exits

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SEDCO Capital, a Saudi Arabia-based and sharia-compliant asset manager, announced Monday that it has exited seven global real estate investments for a total of $338 million, realizing an internal rate of return (IRR) of 14 per cent.

The seven properties were split between the US and UK and spanned residential, office, hotel, healthcare, and logistics sectors. Below is a list of all the properties which had been acquired between 2012 and 2016:

1- Hampton Inn Hotel, Nashville, US – sold for $103 million with IRR of 33.2 percent.

2- Amazon data center, San Francisco, US – sold for $35 million with IRR of 19 percent.

3&4- Garret West and Catalyst, US – sold for combined $94.5 million with IRR of eight percent.

5- Medical property, US – sold for $28.4 million with IRR of 11 percent.

6- Veterinary medical facilities, US – sold for $46 million with IRR of 12 percent.

7- Office building, UK – sold for 24 million pounds ($28.98 million) with IRR of seven percent.

“We are delighted with our success in the US and UK markets,” said Sherif Selim, head of international & regional real estate at SEDCO Capital. “We have seen excellent returns in both territories and will continue to pursue attractive opportunities for our investors albeit with a focus more on urban traditional assets with an emphasis on total return primarily from solid income.”