Kuwait - Mubasher: KAMCO Investment Company has signed an agreement with General Electric (GE) to acquire a newly constructed high quality office building located in the US.
The office building serves as the GE’s new US Global Operations Center and will be acquired for approximately $113 million, KAMCO said in a press release on Sunday.
The property provides about 104,000 sq. meters of office space, and is located in the heart of the Cincinnati Central Business District, Ohio.
The investment is projected to yield net cash returns of 6.0% per annum or above during the investment period, according to KAMCO.
“This is yet another illustration of KAMCO’s prominent role in identifying and structuring investments in good quality durable assets that provide periodic fixed income cash flow streams.” said Mr. Khaled Fouad KAMCO’s Chief Investment Officer.
