Mubasher: KAMCO Investment Company acquired the largest distribution warehouse of Amazon UK Services for approximately £61 million, according to a recent statement.
KAMCO said that the acquired property is leased to Amazon on a triple net lease that will mature in 15 years in October 2031.
Following this acquisition, KAMCO will become the sole owner of the Amazon property, aiming to achieve a targeted cash yield of 6.50% per year, and an expected 7% internal rate of return (IRR) per annum throughout the investment period.
“Reaching a target of half a billion dollars is not far-off especially that KAMCO’s alternative investment team currently manages more than $250 million in real estate across eleven regional and international properties,” KAMCO’s chief investment officer Khaled Fouad said.
