90 North is an independent real estate investment adviser that operates globally
Real Estate Case Study
90 North is an independent investment advisory firm, specialising in Shari’ah compliant real estate investments.
James Caan, Philip Churchill, Nicholas Judd and Faisal Butt founded 90 North in November 2011. By June 2012, they closed their first transaction, a £46m acquisition.
From its headquarters in Central London, 90 North identifies and executes real estate investment and development transactions. With additional offices in Chicago and Kuala Lumpur, the company now has a global presence and has recently (June 2017) launched an Australian office in downtown Sydney.
Investment
James Caan’s private equity firm, Hamilton Bradshaw (HB) currently holds a substantial stake in 90 North.
Philip Churchill
Founder & Managing Partner
Starting in Citigroup’s Risk Management, Philip made the transition to real estate in 1999 and now has considerable experience in building successful investment management teams and implementing efficient ownership structures, particularly for Shari’ah compliant investors, across a wide range of real estate sectors and geographies
Nick Judd
Founder & Head of Investment
Nick’s real estate and fund management career started in the late 1980s and, since 2000, he has been working with Gulf based investors throughout the Middle East concentrating on delivering profitable results for investors by driving all elements of the active asset management process from acquisition through to sale.
Faisal Butt
Founder
With a multidisciplinary background spanning real estate, finance, consulting, and private equity, Faisal is an entrepreneur and investor, best known for co-founding Spire Ventures with the backing of James Caan.
Performance
Assets under management now exceed £1bn, split across the USA, UK, Continental Europe and Australia and diversified across a wide range of sectors. To date, the group has completed 8 exits delivering a return to investors through quarterly distributions over the investment period as well as a possible capital gain on exit.
£7M +
Sq.ft of floor space under management
40
Over 670,500 sq.ft of retail space
10000+
Car parking spaces
2010
Average investment property build date
15
Finance providers
2000+
Student accommodation beds
Mercy Health
Ohio, USA (May 2017)
- Acquisition of the Mercy Health headquarters building for $85m
- The property is a newly built (April 2016) state-of-the-art office, with 368,000 sqft spread over 5 floors.
- Fully let to Mercy Health with 14 years remaining on the lease, serving as their new corporate HQ with over 1,000 employees working there
Siemens
Lincoln, UK (July 2017)
- Siemens Gas Turbine Maintenance Headquarters sold for £35m to Siemens
- 90 North had purchased the asset on completion (2012), comprising 136,000 sqft of industrial and office space, with consent for a 97,000 sqft expansion
- Siemens had already invested >£10m fitting out the buildings and had leased the property with fixed rent increases
- The transaction delivered a 12% net IRR to investors over the investment period
UK
+44 (0) 20 7399 6787
USA
155 North Wacker Drive
Suite 4250
Chicago IL 60606
USA
+1 312 803 6963
Kuala Lumpur
Representative Office
Level 26, Menara Maxis
Kuala Lumpur City Centre
50088 Kuala Lumpur
Malaysia
+603 2615 2633
Australia
1 Macquarie Place
Sydney NSW 2000
Australia
+61 (2) 8051 3073
