Alkhabeer Capital, a Saudi-based investment firm announced the acquisition of an office building in Houston.
The property is located in The Energy Corridor, Houston’s top performing and rapidly strengthening submarket, which is home to several of the world’s largest energy companies as well as over 300 multinational companies. As DubaiBeat reported on September 2012 Alkhabeer had launched a $400 million fund and invests globally - specially in UK and US.
Alkhabeer Capital is listed in the Middle East Investors Directory with the code BFD18.
More details follows
Alkhabeer Capital and investment partner, USAA Real Estate Company, announced the acquisition of Park Ten Plaza, a 3-story, Class A office building in Houston.
The property is located in The Energy Corridor, Houston’s top performing and rapidly strengthening submarket, which is home to several of the world’s largest energy companies as well as over 300 multinational companies.
Developed in 1999, Park Ten Plaza is located on 12.2 landscaped acres at the intersection of Highway 6 and Interstate 10 in West Houston. The 155,140-square-foot building is fully leased to eight tenants and is anchored by two full-floor international space users who occupy 69 percent of the overall rentable area.
Ammar Shata, Alkhabeer’s Executive Director & Chief Executive Officer commented: “Following the successful launch and offering of our Central London Residential Development Private Fund, and in line with our strategy of offering our sophisticated investors unique and well managed opportunities globally, we have partnered with USAA Real Estate Company to complement our business plan with access to quality real estate investment opportunities in the US. We strongly believe in the depth of the US real estate market, and our focus in 2013 will be on quality, income-producing assets. We look forward to working with the USAA Real Estate Company team in building a beneficial, long term relationship.”
USAA Real Estate President & CEO, Len O’Donnell commented: “Park Ten Plaza’s location and diverse tenancy represents a very attractive institutional quality opportunity, affording Alkhabeer and USAA Real Estate Company strong cash flow with growth potential. This acquisition marks our initial acquisition with Alkhabeer Capital and we look forward to working with them on this and future investments.”
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