Saudi Fransi Capital said that it liquidated two of its multi-city logistics portfolios in the United States of America in a combined sale transaction worth more than $400 million.
Saudi Fransi Capital said, in a statement that Al Arabiya.net received a copy of, that these portfolios were present in 22 leading sub-markets across the United States, and were acquired in cooperation with joint venture partners in the United States on behalf of account mandates. Separately managed by Saudi Fransi Capital on behalf of its clients.
Investors in these portfolios achieved an internal rate of return (IRR) of approximately 73% and 28% across both portfolios.
These sales represent Saudi Fransi Capital’s second and third exit after the first exit from the previous multi-city logistics portfolio in the United States at the end of 2019 with an approximate value of $620 million, reporting an internal rate of return (IRR) of approximately 15%.
Since launching its global real estate program in 2017, Saudi Fransi Capital has invested in more than 25 assets and portfolios across the United States and Europe with approximate asset values in excess of $2.9 billion.
The company’s international real estate program investments span 15 million square feet of warehousing space in logistics, 2,100 apartments, 2.2 million square feet of leasable space in head offices and suburbs, and six luxury residential facilities.