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Sat 17 Oct 2015 02:11 PM

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Bahrain's GFH to acquire $125m US industrial real estate portfolio

Unit of GFH Financial Group says deal will include 18 income-producing assets across six states

Bahrain's GFH to acquire $125m US industrial real estate portfolio
Hisham Alrayes, CEO of GFH. (Photo for illustrative purposes only)

Bahrain-based Islamic investment banking firm GFH Financial Group has agreed to acquire an industrial real estate portfolio in the United States in a deal worth $125 million.

The group's GFH Capital unit said in a statement on Saturday that the portfolio will include 18 income-producing assets across six states, including single-tenant and multi-tenant properties with an overall occupancy rate of 98 percent.

Hisham al-Rayes, managing director of GFH Capital, said he hoped the transaction would deliver steady yields, potential for capital appreciation and effective portfolio diversification.

GFH did not say who it made the acquisition from.

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