Riyadh – Mubasher: SEDCO Capital, the Saudi asset manager, has sold seven global real estate investments worth $338 million, achieving an average internal rate of return (IRR) of 14%.
The seven properties that were acquired between 2012 and 2016 span the residential, hotel, office, healthcare and logistics sectors in the US and the UK, according to SEDCO Capital’s recent statement.
In the US, the manager has sold the Hampton Inn Hotel in Nashville for $103.5 million.
An Amazon data centre in San Francisco was also sold for $35 million.
Moreover, SEDCO sold the Garrett West and Catalyst residential assets for $94.5 million, data showed.
“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,” Sherif Selim, head of international and regional real estate at SEDCO Capital, commented.
It is worth noting that SEDCO manages real estate assets worth more than $1.2 billion across the US, Asia, the Middle East and North Africa (MENA), and Europe.