Bahrain Bourse falls    A delegation of Caucasus Muslims visits King Abdulaziz Complex for Holy Kaaba Kiswa    KSA Provides 2 Million USD to Islamic Organization for Food Security    Saudi Press: KSA's Attractive Investment Environment    Asian markets mixed    Israeli forces arrest 22 Palestinians in West Bank    Command of Coalition to Restore Legitimacy in Yemen: Intercepting and Shooting Down A Drone Launched by Terrorist Houthi Militia from Saada towards KSA    Bahrain Bourse falls    Six Flags Qiddiya Unveils Park Design    SAGO to Import 780,000 Tons of Feed Barley    Lampard earns first win as Chelsea boss at Norwich    Saudi Youth Basketball Team Defeats UAE in the Gulf championship    Saudi Table Tennis Team Won 4 medals, during West Asian Championships    Saud Al-Haqbani Crowned with the Spanish Friendly Tennis Championship Shield    FAO Regional Director for Communication commends KSA for services for pilgrims    Al-Azhar Undersecretary praises KSA's services for pilgrims    SFDA Co-signs MoU with Bahraini National Organization for Regulation of Occupations, Health Services    Haifaa Al Mansour Represents Saudi Cinema at the Venice International Film Festival    A New Medical and Scientific Achievement to Serve Ophthalmology in KSA and the World    Neonate life is saved after successful Encephalocele operation    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    Custodian of Two Holy Mosques addresses Citizens and Muslims on the Advent of Holy Month of Ramadan    Ministry of Hajj and Umrah Launches Awareness Message on Sacrifice Day    Custodian of Two Holy Mosques addresses the Saudi people and Islamic nation on the blessed Eid Al-Fitr    Newcastle Beat West Ham 3-0 for their first Win of the Season    Mourinho insists Ibrahimovic must be good enough for Manchester United    Reforms have saved the economy from possible recession, say analysts    The King and Crown Prince congratulates Moldova's President    More than 1,5 million pilgrims arrive in Saudi Arabia, so far    MWL allocates SR 7 million for Eid sacrifice project in 47 countries    Saudi Campaign provides educational and training services for Syrians in Al-Za'tari camp    Saudi student goes missing in Kentucky, US    Harvey lashes Texas US coast with high wind, torrential rain    North Korea tests short-range missiles as South Korea, US conduct drills    Samsung leader Jay Y. Lee given five-year jail sentence for bribery    Known days    "MODON" Signs MoU with Chinese Goldwind Company for wind-turbines manufacturing in the Kingdom    Flyadeal, Saudi Arabia's new low-cost airline, scheduled to launch on September 23, reports    Mastercard launches Masterpass in the Kingdom of Saudi Arabia    Honda among 27 Japan players named for World Cup qualifiers    Joker, Harley Quinn movie in works with 'Crazy Stupid Love' filmmakers    Madhuri Dixit to venture into Marathi films as a producer    Consumers warned against using some brands of face powder, hair products    How 'GOT' makers made the frozen lake in 'Beyond the Wall'    Shraddha Kapoor wants people to help the needy    Neymar targets improvement after phenomenal home debut    Politicizing the pilgrimage    Rakhi 2017: "Bond of Love" between a brother and his sister    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Sidra Capital wraps up acquisition of Mercy Health HQs
Published in The Saudi Gazette on 24 - 05 - 2017

SIDRA Capital announced its second foray into the US market. The Saudi-based alternative investment house, completed the acquisition of Mercy Health headquarters in Cincinnati amounting to $90 million. The property which comprises of 34,000 square meters of office space is leased to Mercy Health, a premier health care provider who received A+ (Standard & Poor›s) and A2 (Moody›s) investment grading.
"We have been following and studying the Cincinnati office market closely and the lack of speculative construction has kept the overall market vacancy rate in check. The Cincinnati office market recovery continues to be driven by robust job growth, and we predict that the expansion we witnessed in 2016 is set to carry through 2017 and into 2018.
We expect the lack of new inventory, in conjunction with an expanding local economy will drive vacancy lower and asking rental rates higher." said Hani Baothman, Vice Chairman of Sidra Capital.
Cincinnati has a vibrant business community and is home to 10 Fortune 500 company headquarters. Mercy Health is Ohio's fourth largest employer supporting over 9,000 employees and 1,800 affiliated physicians.
The acquisition of AmerisourceBergen Corporation (Amerisource) HQ in Charlotte, South Carolina, a Fortune 500 company was Sidra Capital's first foray in the US real estate market with a total value of $67.1 million.


Clic here to read the story from its source.