SEDCO Capital UK Limited has completed a European real estate investment of $180 million on behalf of its parent company, SEDCO Capital.
One of the largest asset management firms in Saudi Arabia, SEDCO Capital, has acquired three properties across France and the UK as part of its expansion strategy for the European Union.
The acquisition includes the purchase of a fully-let 9,800sqm office building in the Levallois Perret suburb of Paris in September, in addition to a 25-acre distribution site in Yorkshire and a 4.7-acre office complex in Berkshire in the UK.
The Parisian building serves as the French headquarters to Italian energy company, ENI, and marks SEDCO Capital’s first investment in France.
The distribution site in Yorkshire, acquired for $41.6 million, has a warehouse used by logistics company Eddie Stobart. The office in Bracknell, Berkshire, is currently being leased by telecoms company Vodafone, with approximately 20 years remaining on the lease agreement.
Sherif Selim, head of global real estate, SEDCO Capital, said: “We are delighted to add these three properties to our European real estate investment portfolio.
“Europe is an important region for SEDCO Capital’s long-term macro investment strategy and we believe in both the markets to deliver attractive yields and sustained growth.”
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