Sidra Capital adds to US property portfolio

Saudi-based Sidra Capital has become the latest Mena fund manager to expand its roster of US properties.

The firm acquired a 10 storey office complex in Houston, Texas for an undisclosed amount. The 1000 Energy Drive property was designed for its anchor tenant, New York-listed Southwestern Energy.

It is the firm’s first transaction since launching a $155 million fund to invest in US industrial properties in November.

US property has become a popular investment theme among Mena asset managers.

Also in November, Bahrain’s GFH acquired a portfolio of US warehouse assets valued at $2 billion. And in August, Saudi-based Riyad Capital’s real estate investment trust spent $16 million to acquire an office complex in the US.

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