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SIDRA CAPITAL ACQUIRES HEADQUARTERS BUILDING FOR A LEADING ENERGY COMPANY IN HOUSTON
Jeddah, December 13, 2021 – Sidra Capital announced today that it has acquired a strategic interest in 10000 Energy Drive in Houston Texas. The property was built as a statement headquarters building for its anchor tenant, Southwestern Energy (S&P:BB), a NYSE listed company.
The Property is located in Springwoods Village, a master planned suburb of Houston which has seen significant increase in demand for space by large corporate tenants in recent years. This iconic property comprises two connected LEED certified office towers comprising over 51,000 sq m of Class A leasable space.
“We are pleased to have completed the acquisition of 10000 Energy drive which will expand our geographical footprint in the US and diversify our real estate portfolio,” said Hani Baothman, Chairman of Sidra Capital. “Sidra’s current acquisition exemplifies the company’s strategy of sourcing investment opportunities that take advantage of emerging trends in the post pandemic period. It follows the 2020 acquisition of the Arborcrest Corporate Campus in Blue Bell PA, a five-building class A office campus catering to technology, life sciences and biotech industries.”
Sidra Capital has been actively investing in the US real estate since 2016 and has acquired over 10 million sq. ft. of leasable area covering a variety of strategies including core, core-plus and value-add. Most recently in 2021, the company launched a US$ 155 million fund investing in the acquisition of industrial properties in the United States. Earlier this year, Sidra Capital successfully completed the sale of the Bon Secours Mercy Health (BSMH) headquarters property in the midwestern US city of Cincinnati, Ohio generating a return in excess of 9.5% p.a. for its investors.