Real Estate Investment Fund: DUHAMEL advises Principal Real Estate and SEDCO Capital

Principal Real Estate, a subsidiary of Principal Real Estate Europe – leading European real estate investment manager -, has recently launched a French REIT (an Organisme Professionnel de Placement Collectif Immobilier (OPPCI)) in order to acquire a real estate complex located in Levallois-Perret on behalf of SEDCO Capital, a Sharia compliant Saudi asset manager. This real estate complex, which is already leased to several companies including the Italian energy supplier ENI, is made of offices and parking lots representing an area of 9.800 sqm.

Guillaume Masset, Head of Transactions and Asset Management in Europe for Principal Real Estate Europe, commented: “This is our maiden acquisition alongside SEDCO Capital and a good example of the type of core+ asset we are looking to acquire. We are currently seeing some excellent infrastructure-linked investment opportunities in specific European cities and sublocations.”

Sherif Selim, Managing Director & Global Head of Real Estate at SEDCO Capital, commented: “We are delighted with the Levallois acquisition as it marks our first investment in France. We strongly believe in the French market and are confident that we will execute more quality transactions that offer risk adjusted returns for our clients alongside our valuable partner Principal. We have capital allocated for core / core+ European real estate, targeting locations and assets that will benefit from long-term macro themes like infrastructure, demographics and innovation.”

Jérémie Duhamel, Partner of DUHAMEL which focuses its practice on Investment Funds & Financial Services, advised Principal Real Estate and SEDCO for the structuring of the OPPCI and for all matters related to financial law.

Principal Real Estate and SEDCO were also advised by Simmons & Simmons, Shift Capital, C&C Notaires and Denjean & Associés.