Press Release – Zawya – 90 North doubles US portfolio value in 2016 to $540M


London headquartered global real estate investment firm 90 North has more than doubled the value of its US assets acquired since the beginning of 2016.

The firm has so far closed approximately $300 million of deals in the US this year, taking the overall value of its assets in the country to $540 million.  This marks an increase of more than 100% in the value of the firm’s US portfolio at the end of 2015.

In February, the firm completed the acquisition of the North American headquarters of Saint-Gobain in Pennsylvania for $123 million, before snapping up a newly constructed $67.1 million HQ office complex in South Carolina in April.

Most recently, in October, 90 North successfully closed on the $107 million acquisition of General Electric’s new Global Operations Centre in downtown Cincinnati, Ohio, in its capacity as an investment advisor.

The three transactions also take 90 North’s overall US AUM to approximately 2,000,000 sq.ft., as well as pushing the global value of its real estate transactions to date to more than $1.5 billion.

Nick Judd, Founder & Head of Investment at 90 North, commented:

“The 90 North team has worked flat out in 2016 closing transactions to meet the wants & needs of our partners and investors. We are delighted to have closed three significant transactions in the US this year taking our Global portfolio assets acquired to twenty-five in total. We first began operations in the States in 2014 and our rapid expansion here is a testimony to the diligence, determination, and expertise of our staff both in Chicago and London.”

“It is also indicative of the currently strong appeal of commercial property as an asset class. 90 North continues to appraise real estate opportunities in the U.S, UK & Europe which, typically, are modern, very well-located and secured by long-lease contracts. As 2016 ends and 2017 begins we will seek to capitalise on the rapid progress made over the past few years as we endeavour to secure the best investment opportunities for our clients.”

Original article in Zawya