Saudi asset manager SEDCO sells $338m worth of US and UK properties

Saudi asset manager SEDCO Capital has sold $338m (€302.4m) worth of US and UK real estate assets.

SEDCO Capital said the seven properties, which span the residential, hotel, office, healthcare and logistics sectors, were acquired between 2012 and 2016.

In the US, the manager has sold the Hampton Inn Hotel in Nashville for $103.5m. The asset was acquired at the start of 2016 and was part of SEDCO’s value-add portfolio.

SEDCO said it sold an Amazon data centre in San Francisco for $35m and also sold the Garrett West and Catalyst residential assets for $94.5m.

The manager also said it sold a medical property for $28.4m and a 99,000sqft portfolio of six veterinary medical facilities across the US was sold for $46m.

In the UK, SEDCO sold an office building for £24m. SEDCO acquired the asset in 2015.

Sherif Selim, head of international and regional real estate at SEDCO Capital, said: “We are delighted with our success in the US and UK markets which underscores our global positioning as a serious investor across value add and core strategies.

“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.”

SEDCO manages real estate assets worth more than $1.2bn across the US, Asia, MENA and Europe.

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  • Hampton Inn Hotel in Nashville

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