SEDCO Capital completes $338 mln of global real estate exits

Saudi Arabia-based asset manager SEDCO Capital on Monday announced it has exited seven global real estate investments for a total of $338 million, achieving an average internal rate of return (IRR) of 14 per cent, the company said in a statement.

The seven properties span the residential, hotel, office, healthcare and logistics sectors in the United States and the United Kingdom and all were acquired between 2012 and 2016.

SEDCO Capital sold the Hampton Inn Hotel in Nashville for $103.5 million, representing an equity multiple of 2.2x and an IRR of 33.2 per cent, the statement added. 

Another standout investment was the sale of an Amazon data center in San Francisco for $35 million which generated an IRR of 19 per cent and an equity multiple of 1.13x.

Garrett West and Catalyst, two residential assets in the US, were sold for a total of $94.5 million generating an IRR of 8 per cent and an aggregate equity multiple of 1.13x for investors, the statement added. 

SEDCO Capital combines a Shariah-compliant investment approach with ESG principles, and manages real estate assets totaling over $1.2 billion across the US, Asia, MENA and Europe, the statement further added.