JEDDAH, Saudi Arabia – SEDCO Capital of Saudi Arabia says it has launched a buying program to acquire “a sizable portfolio” of seniors housing in the United States, in accordance with Islamic teachings about Shariah-compliant investing.
Recently, SEDCO Capital in partnership with Kensington Realty Advisors of Chicago, acquired a seniors facility – the 207-unit Village at the Woodlands Waterway, just north of Houston in The Woodlands community.
Samer Shaaban, head of real estate at SEDCO Capital said, “Our firm belief in Shariah compliant investing, which is very similar to ethical investing, coupled with acquisitions that are defensive in nature help us diversify our client portfolios.”
SEDCO Capital said in a press release that it “continues to target assets in the senior housing sector and expects to assemble a sizable portfolio over the next 12 months, taking advantage of a stable and growing U.S. economy with the objective of offering its clients opportunities that are generally not easily available to them.”