SEDCO Capital achieves 11.24% IRR from a commercial real estate sale in the US, acquires Willis Avondale Estates in the US for $52.5m
Jeddah, February 24th, 2020: SEDCO Capital, a leading global asset manager, is pleased to announce that it has successfully exited a US-based real estate investment, realising an IRR of 11.24% for investors. The property, located in Fort Worth, Texas, was sold by SEDCO Capital for $29.25 million in January 2020.
SEDCO Capital acquired the property in 2001. It comprises 170,000 sq. ft. of office and industrial space, currently leased to Galderma Laboratories, a pharmaceutical manufacturer specialising in dermatological treatments and skin care products, formerly owned by Nestlé.
In addition to the successful sale of the Fort Worth asset, SEDCO Capital has just concluded a $52.5 million real estate investment in Decatur, Atlanta in the US. In partnership with Coastal Ridge Real Estate, SEDCO Capital acquired the property from South City Partners and ELV Associates.
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