The US real estate sector is expected to remain an appealing asset class for the foreseeable future/iStockby Kudakwashe Muzoriwa
SEDCO Capital, a Saudi-based global asset manager, has successfully exited a US-based real estate investment, achieving an internal rate of return of 11.24 per cent for investors.
Samer Abu Aker, the Chief Executive Officer at SEDCO Capital, said,“ The commercial real estate market in the US continues to benefit from robust economic activity, low-interest rates, and strong fundamentals.”
Additionally, in partnership with Coastal Ridge Real Estate, SEDCO Capital also concluded a $52.5 million real estate investment in Decatur, Atlanta in the US. The firm also acquired the property from South City Partners and ELV Associates in addition to the successful sale of its Fort Worth asset.
“While this was the right time for us to exit the Fort Worth investment, as evidenced by the attractive rate of return, we believe the US real estate sector will remain an appealing asset class for the foreseeable future,” said Sherif Selim, Executive Vice President & Head of Global Real Estate at SEDCO Capital.