Saudi investment firm buys US office development


Alkhabeer Capital, a Saudi-based asset management and investment firm, has announced the acquisition of an office development in the United States in a deal with partner USAA Real Estate Company.

The acquisition of Lake Pointe Centre III and IV is the latest transaction of Alkhabeer US Real Estate Income Fund (Private Placement Fund), the company said in a statement.

Lake Pointe Centre III and IV is a 170,147 square-foot core and class A office portfolio, located in the Allison Pointe Office Park in Keystone, Indianapolis.

It consists of two four-storey buildings that are leased to a tenant roaster comprised of IT, medical, transportation and legal firms with four renowned blue chip tenants together leasing approximately two thirds of the space, the statement said.



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