The seven properties span the residential, hotel as well as office, healthcare and logistics sectors in the Us and the UK, all were acquired between 2012 and 2016.
Wednesday 14, August 2019 BY KUDAKWASHE MUZORIWA
SEDCO Capital has exited seven global real estate investments for a total of $338 million, achieving target returns on all properties and realising an average internal rate of return (IRR) of 14 per cent.
Sherif Selim, Head of International & Regional Real Estate at SEDCO Capital, said, “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.”
The Saudi Arabia-based asset manager sold the Hampton Inn Hotel in Nashville for $103.5 million; the investment was acquired at the start of 2016 and was part of SEDCO Capital’s value add portfolio which focuses on buy, fix and sell.
SEDCO stated that another standout investment was the sale of an Amazon data centre in San Francisco for $35 million and it generated an IRR of 19 per cent and an equity multiple of 1.13x.
Additionally, Garrett West and Catalyst, two residential assets in the US, were sold for a total of $94.5 million generating an IRR of eight per cent and an aggregate equity multiple of 1.13x for investors.