Business Halal Business Investment

Bahrain’s GFH acquires a $100 million property portfolio in the US

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Wednesday 17, July 2019 BY Kuda Muzoriwa

The Tech Offices Portfolio is situated on around 60 acres within the Research Triangle Park, the largest dedicated scientific research park in the US.

Dubai-based GFH Capital Limited, a subsidiary of GFH Financial Group, has acquired a property portfolio of office buildings in the US in a deal valued over $100 million, bringing the volume of US and UK real estate transactions executed by the lender in the last few years across to $1 billion.

GFH stated that the portfolio was purchased in partnership with Global Mutual, GFH Financial Group along with its investors owns 95 per cent of the portfolio with the remaining five per cent stake to be held by Global Mutual.

Hisham Alrayes, the CEO of GFH Financial Group, said, “We are pleased to continue expanding our portfolio of strong income yielding real estate investments and this venture will increase our footprint in the growing tech office space in the US market.”

GFH’s property portfolio will be leased to 16 tenants for an overall occupancy of 96 per cent and Arcadia Management Group, an affiliate of Global Mutual, will be the property manager for the portfolio.

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