Sovereign wealth fund enters Raleigh-Durham market

Bahrain Mumtalakat Holding Co., the sovereign wealth fund of the Kingdom of Bahrain, has purchased its first office property in Raleigh-Durham, N.C.

The acquisition was completed in a partnership with Sentinel Real Estate Investment Corp., and is the fund’s first joint venture with Sentinel.

The state-of-the-art class A campus is fully leased to Lenovo, a Fortune 500 global technology leader and one of the largest PC makers in the world. Located in the heart of Research Triangle Park, a 7,000-acre dedicated scientific research park in North Carolina, the campus provides strong cash flows, attractive yields and solid rent growth. Research Triangle Park houses over 250 companies in which more than 50,000 people work. It continues to recruit and retain some of the world’s leading corporations and rapidly growing technology and innovation firms.

“The real estate sector is a key component of our portfolio growth strategy, and the U.S. real estate market is grow