Bahrain-based GFH says acquired portfolio consists of five income yielding buildings located in Research Triangle Park, North Carolina
GFH Capital Limited, a subsidiary of Bahrain-based GFH Financial Group, on Tuesday announced that it has acquired a tech offices portfolio in the United Statesw in a deal valued at over $100 million.
With the completion of this deal, total US and UK real estate transactions executed by GFH over the last few years has crossed $1 billion mark, the company said in a statement.
The acquired portfolio consists of five income yielding buildings located in Research Triangle Park, North Carolina.
The portfolio was purchased in partnership with Global Mutual, one of the fastest growing real estate investment management company in US, UK and Europe operating over £1.5 billion of assets under management.
The portfolio is situated on nearly 60 acres within the Research Triangle Park, which is the largest dedicated scientific research park in the US, featuring more than 250 companies and 50,000 professionals within 22.5 million square feet of built-out space.
GFH Financial Group, along with its investors, acquired about 95 percent of the portfolio with the remainder to be held by Global Mutual and its affiliates.
Hisham Alrayes, CEO of GFH Financial Group, said: “We are pleased to continue expanding our portfolio of strong income yielding real estate investments in the US market... This continued ability to identify asset in fast growing markets with tenants in recession resistant industries will allow us to deliver value to our investors.
"Furthermore, this venture will increase our footprint in the growing tech office space in the US market. Expanding our partnership with leading international asset managers and property operators, we expect to build on the strong performance of these properties and, importantly, on the strong competitive advantage they enjoy.”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.