Global successfully completes the sale of a property in the UK achieving total return of 23.6%, internal rate of return of 10.55%
The acquisition of the property was concluded in September 2015 in partnership with Greenridge Investment Management Limited (Greenridge), an expert in the UK’s regional property market that enjoys a solid track record of delivering outperforming returns in all stages of the market cycle. The property comprises a campus of modern office buildings that are let to National Air Traffic Services (NATS), a partly government owned company that is the UK's leading provider of air traffic control services.
Head of Real Estate Asset Management at Global Nasser Faisal Al-Khaled commented, “Our investment program in the UK has repeatedly proven its ability to originate high quality off market assets, deliver strong cash yields and also to perform ahead of target on value addition strategies. With this exit, we have now also demonstrated our ability to go full circle and profitably exit from an investment”.
He added, "We are delighted with this sale. It reflects an excellent return for our clients when compared to the level of risk and the average return on real estate investment in general in light of BREXIT implications and current economic uncertainty."
Global is currently expanding its services in the real estate asset management to cover Western Europe and the United States to provide diverse opportunities for clients to diversify their investments geographically and currency wise in line with their investment strategies.
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