GFH buys US$150m properties in Chicago

Manama : GFH Financial Group yesterday announced making new acquisition in the US comprising of two Chicago suburban office properties in a deal valued at approximately US$150 million. 

In a statement carried by Bahrain News Agency (BNA), GFH said the investment has been undertaken in partnership with Crestlight Capital and Lincoln Property Company.

The properties, according to GFH, are a leading, Class A, trophy properties in the suburban Chicago market with two striking mid-rise office buildings and two parking decks on a 25-acre plot.

The investment, the Bahrain-based company said, provides its investors exposure to the positive dynamics of the US real estate market and, in particular, the increasing suburbanisation trend for office space, accommodating to demands for larger space, modern floor layouts and on-site amenities. 

Commenting, Hisham Alrayes, CEO of GFH, said, “We are delighted to announce another key investment in the US Real Estate market building on our growing portfolio and track record of success in this market.”

“It is a continuation of our strategy to acquire and bring to our investors unique and strong income yielding opportunities,” he added. 

GFH is listed on three stock exchanges in the GCC, including the Bahrain Bourse, Kuwait Stock Exchange (KSE) and Dubai Financial Market (DFM). GFH’s operations are principally focused across the GCC, North Africa and India, along with strategic investments in the U.S. and U.K.