GFH exits US industrial portfolio

TDT | Dubai

The Daily Tribune – www.newsofbahrain.com

GFH Capital Limited, a fully-owned subsidiary of GFH Financial Group, announced signing agreements yesterday to exit from its US Industrial Portfolio I and II acquired by GCL in 2016.

The Portfolio consists of 26 assets with an area covering over 2.7 million square feet.

These assets across the Midwest region of the US are split equally between single and multi-tenant facilities serving as distribution, warehousing and other industrial real estate sites.

The exit is to deliver approximately 40% return to investors over the holding period.

Commenting on the transaction, Nael Mustafa, Co-Chief Investment Officer at GFH, said, “We believe this is the right time in the cycle to exit from the 2016 industrial vintage in keeping with GFH’s investment philosophies of capitalizing on appropriate market conditions for entry and exit from its investments.

He added: “We are building a strategic, diversified portfolio of assets in this segment of the global property market.

This is demonstrated by our recent investments in central distribution facilities in the United States leased out to leading high calibre tenants including Michelin and FedEx.”

GFH is also in discussion to acquire further assets in the space similarly leased to strong creditworthy tenants, “which will allow our investors to build a strategically diversified portfolio within the growing industrial subsector not only in the US but in Europe and Asia as well in the near term.”