Sidra Capital, Saudi Arabia-based Shariah-compliant asset manager, has acquired headquarters building of 10000 Energy Drive in the US for an undisclosed amount.
The 10000 Energy Drive, a 10-storey office property built as a statement headquarters for its New York-listed anchor tenant, the Southwestern Energy, is in the master-planned community of Springwoods Village in the suburb of Houston. This iconic property comprises two connected LEED-certified office towers comprising over 51,000 square meters of Class A leasable space.
According to Mr. Hani Baothman, Chairman of Sidra Capital, the recent acquisition will expand the company’s geographical footprint in the US market and diversify its real estate portfolio.
Hani Baothman Chairman – Sidra Capital
“Sidra’s current acquisition exemplifies the company’s strategy of sourcing investment opportunities that take advantage of emerging trends in the post-pandemic period. It follows the 2020 acquisition of the Arborcrest Corporate Campus in Blue Bell PA, a five-building Class A office campus catering to technology, life sciences and biotech industries.”
Sidra Capital has been actively investing in US real estate since 2016 and its portfolio now has more than 10 million square feet of a leasable area covering a variety of strategies including core, core-plus and value-add. The company has also launched a $155 million fund investing in the acquisition of industrial properties in the US.
Earlier this year, Sidra Capital completed the sale of the Bon Secours Mercy Health (BSMH) headquarters property in the midwestern US city of Cincinnati, Ohio generating a return in excess of 9.5 percent annually for its investors.
Sidra Capital
Founded in 2009, Sidra Capital is a Jeddah-headquartered financial services provider, with offices in Riyadh, London, Singapore and Dubai. The Shariah-compliant asset manager focuses on alternative asset classes mainly global income-generating real estate, private finance and private equity.
