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.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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