London headquartered global real estate investment firm 90 North has completed its 25th transaction, taking the value of the assets it has advised on worldwide to over €1.35bn ($1.5bn).
The milestone transaction involved 90 North acting as investment adviser to KAMCO Investment Company (“KAMCO”), a leading investment company with one of the largest AUMs in the Gulf Cooperation Council region, on the acquisition of a brand new office development in Cincinnati, United States.
The Grade A, 31414.8m², 12-story commercial property was purchased for €96.4m ($107m). The property has been designed to achieve environmentally-friendly LEED (Leadership in Energy and Environmental Design) Certification and is in The Banks area of downtown Cincinnati, between stadia housing Cincinnati’s football and baseball teams – respectively the Bengals and the Reds. Practical completion of the development took place in September 2016 and the property is now on a 15-year lease to General Electric, who is using the building as its new Global Operations Centre.
The transaction means that, since 2012, 90 North has advised on transactions totalling more than €1.35bn ($1.5bn) across the US, UK and Europe – a landmark moment for the firm and an impressive achievement within the space of four years.
Nick Judd, Founder & Head of Investment at 90 North, commented: “This is a significant moment for 90 North. We are delighted that our 25th transaction was marked by providing advice to such a prestigious firm in KAMCO and on a superb property in a city where 10 of the world’s Fortune 500 companies are headquartered. The high calibre and careful diligence of our staff in Chicago and London has underpinned our rapid growth. We co-invested in the acquisition – a feature of all our transactions which means our partnerships are very strong and interests aligned”.
