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.


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


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.


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


Over 670,500 sq.ft of retail space


Car parking spaces


Average investment property build date


Finance providers


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


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


91 Wimpole Street

+44 (0) 20 7399 6787


155 North Wacker Drive
Suite 4250
Chicago IL 60606

+1 312 803 6963

Kuala Lumpur

Representative Office
Level 26, Menara Maxis
Kuala Lumpur City Centre
50088 Kuala Lumpur

+603 2615 2633


Level 36, Gateway
1 Macquarie Place
Sydney NSW 2000

+61 (2) 8051 3073