29 April 2015
LONDON: Gatehouse Bank plc
"), the London-based investment bank specialising in Shariah-compliant products and services, is pleased to announce the completion of terms to provide £17.92 million of senior financing following the recent acquisition of a UK industrial estate by Saudi Arabia's SEDCO Capital
The funding supports the acquisition of Blakelands Industrial Estate, a well-established and multi-let industrial estate in Milton Keynes. Palmer Capital is acting as the Investment Manager to SEDCO Capital which through this venture intends to deploy £100 million into UK real estate over the next 12 months through this venture. This transaction is the first such transaction for this programme, which will target the recovering office and industrial real estate market in the UK.
"We have worked closely and effectively with SEDCO Capital and Palmer Capital to provide funding for this initial transaction" said Nick Westoby, Vice President of Gatehouse's Real Estate Finance Team. "We are very pleased to be supporting the acquisition of this high quality asset, which provides a good platform for further partnerships with SEDCO Capital and Palmer Capital as they build out their portfolio."
A spokesman for SEDCO Capital said "It was great working with Gatehouse and Palmer Capital on this matter. We are delighted to have exceeded our clients' expectations for this deal. We have been an active investor in UK property for a number of years and are looking to increase our holdings by pursuing a diversified real-estate strategy".
About Gatehouse Bank plc
Gatehouse Bank plc
(the "Bank") is an investment bank based in the City of London, authorised by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Founded in 2008, the Bank invests in accordance with Shariah principles and has divisions in Real Estate Investment, Real Estate Finance, Treasury, and Wealth Management services. Seeking to preserve and grow wealth for its clients, the Bank combines international financial market expertise with excellence in Shariah principles. The Bank advises funds with approximately $1.5 billion of assets in the United States and United Kingdom. For more information please visit www.gatehousebank.com
About SEDCO Capital
SEDCO Capital (SC) is a leading independent Saudi Arabia based investment manager. It is authorised and licensed by the Capital Market Authority in Saudi Arabia. Offering tailor made solutions in all areas of fund analysis, investments, corporate finance, advisory and custody. Its services are aimed exclusively to Ultra high net worth individuals, Institutional clients such as banks, asset managers, family offices and pension & sovereign funds.
SC's investment team is composed of an experienced professionals from the asset management and banking industry. SEDCO Capital currently manages and advises in excess of USD 3.0 billion of AUM for a number of clients across several different asset classes. The investment team retains an impressive track record in Shariah-compliant investments. SEDCO Capital manages more than 300 direct and indirect investments in 18 countries and its Real Estate portfolio is diversified across residential, office, retail, industrial, hotels, resorts, and raw land.