Kuwait's Kamco Invest acquires California property for $286 millionChristian Fernsby ▼ | February 17, 2020
Kuwait's Kamco Invest has acquired ServiceNow’s world headquarters, a 328,867 square foot Class A office campus located in Silicon Valley, USA for an estimated value of $286 million.
Acquisition Kamco California
Topics: Kuwait Kamco Invest acquire California
ServiceNow is a leader in cloud computing and service management business solutions and is listed on New York Stock Exchange with a market capitalisation exceeding $50 billion.
Mohammad Al-Othman, Executive Director of Real Estate Investments from Kamco Invest, said, "We are committed towards scaling our real estate portfolio through diversified assets and further growing the size of the international real estate portfolio we manage, which now surpasses $1 billion, as committed by our CEO in a press conference earlier this year.”
The office campus is fully leased to ServiceNow and is expected to generate an average annual cash yield of 7.8 percent. Kamco Invest is also exploring options of another purchase. ■