MANAMA: Arbah Capital, in partnership with Hampshire Stateside, has purchased a 226,548-square-foot office building in the US for $59 million.

Located in Orlando, Florida, the ‘class A’ building is leased to Siemens Energy on a long term lease.

Hampshire manages more than 270 properties and has more than $2.4 billion of assets under management in the US.

Siemens Energy is a subsidiary of Siemens Energy AG, an investment grade entity listed on the Frankfurt Stock Exchange.

Orlando is a growing market and FDI Magazine ranks Orlando as one of the Top 10 ‘American Cities of the Future’, it has the lowest office vacancy in Florida and is ranked number one for job growth by the US Department for Labour.

The property is strategically located in the Quadrangle Business Park which is adjacent to the University of Central Florida, the second largest University in the US, and in close proximity to the Central Florida Research Park, which is the fourth largest research park in the US.

Mike Davis, Rick Brugge, Zach Eicholtz and Rick Colon of Cushman & Wakefield arranged the sale on behalf of the buyer.

CBRE represented the seller, Real Capital Solutions, in the transaction.

Mahmood Al Kooheji, chief executive of Arbah Capital, said: “the key philosophy of Arbah is to find for its investors the right growth segments, and to structure investments in those segments with leading partners who have a proven track record. Arbah’s reputation and professionalism attracts best in class partners to offer value added investments to its investors”.

He added: “Arbah is very proud to have once again found and executed such an excellent investment which has taken very careful study and consideration, and may produce exceptional asset management opportunities in the near term. Arbah continues to remain ahead of the curve in challenging times.”

The investment firm is licensed by the Capital Market Authority in Saudi Arabia and is eyeing more acquisitions in the social infrastructure space in the US as well as prominent real estate development projects in Saudi Arabia.

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