Saudi's Sedco closes $179m European real estate deals

Saudi-based asset manager Sedco Capital has concluded real estate deals worth nearly $180 million in Europe. Sedco Capital UK Limited announced it has acquired three properties across France and the UK on behalf of its Saudi parent. The company assisted in the purchase of an office building in the Levallois Perret suburb of Paris which serves as the French headquarters to Italian energy company ENI and marks Sedco Capital’s first investment in France. In the UK, Sedco Capital advised on the acquisition of two properties - a 25-acre distribution site in Yorkshire and a 4.7-acre office complex in Bracknell, Berkshire. The distribution site is wholly occupied by British infrastructure and support services company Eddie Stobart Limited while Vodafone leases Bracknell-based office Waterside House. Sherif Selim, head of global real estate, Sedco Capital, said: “We are delighted to add these three properties to our European real estate investment portfolio. 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.”