Property purchased through separate account managed by ElmTree Funds
ST. LOUIS–(BUSINESS WIRE)–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 19C066