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Saudi Arabia's SEDCO Capital sells $338M worth of US, UK real estate assets

Saudi Arabia-based SEDCO Capital said it sold seven properties across the U.S. and the U.K. for $338 million, reflecting a 14% average internal rate of return.

In the U.S., the asset manager sold the Hampton Inn Hotel in Nashville, Tenn., for $103.5 million. SEDCO acquired the asset in 2016 as part of its value-add portfolio. SEDCO also sold an Inc.-leased data center in San Francisco for $35 million, as well as the Garrett West and Catalyst residential properties for a combined $94.5 million. A medical property and a 99,000-square-foot portfolio of six veterinary medical offices were sold for $28.4 million and $46 million, respectively.

SEDCO also sold an office building in the U.K., which it acquired for £24 million in 2015.