Kuwait’s Global Investment House recently acquired two properties in the United Kingdom following a targeted real estate marketing search, continuing a trend of successful off-market business operations intended to build its growing global clientele.
Now under the firm’s auspices are a 150,000-square-foot, three-story, health care-related structure serving as headquarters for, and leased to, the National Health Services (NHS) in Gyle Business Park, Edinburgh, Scotland; as well as the U.K./European headquarters of 3M, in Bracknell, Berkshire, England.
The 3M base consists of two adjoining office buildings totaling over 184,000 square feet on 11.5 acres, leased to 3M U.K. Ltd and located 28 miles west of London.
"These acquisitions come as further proof that in a short period of time we have built on-the-ground capabilities to identify opportunities for our clients who seek to invest in quality assets which yield attractive long term income,” Nasser Alkhaled, senior vice president of real estate for Global, said. “With our first acquisition, we have delivered so far distributions in excess of our targets and achieved the asset management initiatives planned earlier than expected."
Global’s asset management division for real estate acquisition began its U.K. National Commercial Real Estate Program in mid-2015 with the goal of identifying top commercial properties near London. The two current purchases follow an initial transaction involving a Solent Park-based National Air Traffic Services campus in September 2015, adding value to its growing portfolio.
"We have built a strong partnership with Greenridge who have demonstrated their ability to efficiently assist us in executing and managing these assets which are currently valued at over GBP 200 million,” Alkhaled said. “We look forward to further growing our business in the United Kingdom."
Global Investment House, founded in 1998 under the Capital Markets Authority of Kuwait, is a shareholding company with integrated investment solutions for brokerage, asset management and investment banking purposes headquartered in Safat. Global negotiated the acquisitions in partnership with Greenridge Investment Management Limited, a London firm.