Saudi Riyad Bank Sells U.S. Office Complex for $200 Million
(Bloomberg) -- The investment arm of Riyad Bank sold an office complex in the U.S. for more than $200 million, its first sale of overseas real estate since starting the business in 2018.
The transaction by Saudi-based Riyad Capital was for Sequoia Plaza, a three-building office complex covering 370,000 square foot in Virginia, the company said in a statement. The buyer was U.S.-based Boyd Watterson Asset Management LLC.
According to the statement, Riyad Capital has acquired almost 9 billion riyals ($2.4 billion) of properties in the U.S. and Europe since 2018.
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