Saudi asset manager Sedco Capital has inked the €156 mln acquisition of three properties in Europe including Italian energy firm Eni's French headquarters in Paris.
Sedco, acting on behalf of its clients, said on Tuesday that it has entered the French property market with the acquisition of a fully-let Eni office building offering 9,800 m2 in the Levallois Perret suburb of Paris in September.
The €156 mln investment also includes two properties in the UK, a 25-acre distribution site in Yorkshire for £32 mln and a 4.7-acre office complex in Bracknell, Berkshire for £35 mln.
The distribution site, which contains a warehouse covering 413,959 sq ft (38,500 m2), is wholly occupied by British infrastructure and support services company Eddie Stobart. There are circa 17-years remaining on the lease.
Vodafone leases Bracknell-based office Waterside House, covering 94,867 sq ft, on a 30-year term with 20.9-years remaining.
Sherif Selim, head of global real estate at Sedco Capital, said: 'Europe is an important region for Sedco Capital’s long-term macro investment strategy and we strongly believe in both the French and UK markets to deliver attractive yields and sustained growth. The acquisition in Paris exemplifies our ability to secure promising new opportunities in a highly-competitive market.'
Sedco Capital UK was advised by Roebuck Asset Management and Savills in the UK and Simmons & Simmons, Duhamel Blimbaum, C&C Notaires and Denjean in France.
