LOUIS – SEDCO Capital (“SEDCO”), a leading Saudi Arabian Asset Manager, today announced that it has purchased in May 2019 a FedEx Ground-leased distribution facility in the Niles submarket of Chicago, Illinois. The property was purchased via a separate account managed by ElmTree Funds, LLC (“ElmTree”), a leading real estate private equity firm.
Sherif Selim, Managing Director at SEDCO, commented, “We are very pleased with the outcome of this transaction and are excited about the long-term prospects for this asset. We like the Northeast Cook County, one of the most stable and established logistics submarkets in the Chicago area with excellent connectivity to Chicago CBD and the airport.”
The 306,448 SF facility is located at 5959 West Howard Street. Originally constructed in 2015 as a build-to-suit for FedEx Ground, the net-leased property supports distribution in the surrounding markets and features 101 dock high doors on a 39.81 acre site.
“The high quality nature of this asset together with its ideal location and remaining lease term with a blue-chip tenant made it a very attractive investment opportunity,” said Jim Koman, CEO of ElmTree Funds.
The property, which has approximately 11.0 years remaining on its lease with FedEx, is expected to perform well over the long-term due to strong market fundamentals as well as its ideal location within the Chicago MSA.
About ElmTree Funds:
ElmTree Funds, LLC is a leading real estate private equity firm and seasoned fund manager to institutional and private investors. ElmTree’s investment philosophy focuses on creating attractive risk-adjusted returns for its investors in the commercial real estate net lease, sale-leaseback, and build-to-suit sectors. Since its founding in 2011, ElmTree Funds has acquired, developed or financed more than $6 billion of office, industrial and healthcare properties. ElmTree Funds targets investments in primary and secondary markets across the United States that are leased to investment grade tenants on a long-term basis. ElmTree Funds is headquartered in St. Louis, Missouri. For more information please visit www.elmtreefunds.com.
About SEDCO Capital
SEDCO Capital is a leading global asset manager, licensed by the Saudi Capital Market Authority, offering investment solutions in a wide scope of geographies and diverse range of asset classes. Having established a strong track record of advisory services and investment management, SEDCO Capital currently manages assets in a diversified spectrum of investments in real estate, equities and other businesses with a total AUM of more than 5 Billion Dollars. SEDCO Capital employs highly-efficient investment professionals throughout the world. The company follows the highest standards of corporate governance rules and practices including the use of advanced information technology systems. SEDCO Capital is also the first Saudi asset manager and the first fully sharia compliant asset manager to be a signatory of the United Nations Principles of Responsible Investing (UNPRI). Through its successful track record, SEDCO Capital is committed to offering innovative Islamic-compliant investment products and today has the largest sharia compliant investment fund platform in Luxembourg through its SEDCO Capital Global Funds platform.
Find out more at www.sedcocapital.com
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