Kuwait’s Global Investment House successfully acquired the headquarters of the National Health Services (NHS) of Scotland in Edinburgh, as well as the European Headquarters of 3M in Bracknell, reported Arab Times Online.
Both deals totaled £200 million ($288.5 million) and were in partnership with Greenridge Investment Management Limited, according to Arabian Business.
The Edinburgh property is leased out long-term to the Scottish Ministers and is fully occupied by NHS of Scotland, Scottish Ambulance Service, and Health Improvement of Scotland – with a total of 1,750 staff on site.
“These acquisitions come as further proof that in a short period 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,” said Nasser Alkhaled, Senior Vice President of Real Estate Asset Management at Global Investment House.
The latest acquisition comes following the launch of Global’s UK National Commercial Real Estate Program in the summer of 2015. The program’s strategy is to identify off-market investment opportunities with a focus on income producing Grade A commercial properties outside of Central London.
Global had recently acquired the National Air Traffic Services campus in Solent Park in September 2015.