Bahrain’s GFH Buys FedEx Logistics Facility in the US

Business

June 27th, 9:05am

Manama – Asharq Al-Awsat

The facility is located in a prominent logistics center in the US state of Ohio (Asharq Al-Awsat AR)

Bahrain’s GFH Financial Group acquired a US warehousing and distribution logistics center for $100 million, as it continues to expand its industrial property assets. The Ohio warehousing unit, which is fully leased to logistics company FedEx, is part of the Bahraini asset manager's focus on the "acquisition of high-quality logistics assets in key distribution hubs", it said on Saturday. The company plans to capitalize on strong tailwinds from growing e-commerce penetration rates and sales in markets including the US, the world's biggest economy. GFH continues to scale up its global logistics platform with its recent acquisitions of the Amazon Spain Portfolio, the Michelin distribution facility in Chicago and the current FedEx distribution facility transaction. "The logistics and distribution real estate sector has proven to be one of the most dynamic sectors of commercial real estate," said Razi Al Merbati, Chief Executive Officer of GFH Capital KSA. "An increase in global trade and e-commerce, as well as development in supply chain management, has created an increased structural demand for warehousing space and, hence, further growth. As part of our investment strategy, we have been investing in this dynamic sector and building a solid and diversified portfolio,” he added. Nael Mustafa, Co-CIO Real Estate at GFH, said: "We are excited to be able to secure another high-quality asset that has the location, tenant strength and physical attributes, which are highly sought after." "We look forward to announcing several other transactions in the sector this year across North America and Europe, supported by our conviction in the ongoing growth of the logistics sector globally and the opportunities that it presents for GFH and our shareholders and investors," he added. GFH is a global real estate investor, investing across sectors with strong long-term fundamentals. It currently has in excess of $12 billion of assets under management.

from Asharq AL-awsat https://english.aawsat.com/home/article/3049746/bahrain%E2%80%99s-gfh-buys-fedex-logistics-facility-us