In partnership with Madison Marquette, GFH acquires healthcare real estate in California, Washington and Michigan
GFH Capital, a subsidiary of Bahrain-based GFH Financial Group, has announced the acquisition of healthcare facilities in the United States in a deal worth more than $180 million.
In partnership with Madison Marquette, GFH said the portfolio consists six income yielding healthcare properties located in the US states of California, Washington and Michigan.
The portfolio, which consists of properties that are currently 93 percent occupied by residents, caters to senior citizens seeking independent living, assisted living and memory care, a statement said.
It added that most of the properties have been recently renovated and the portfolio, on average, is attracting above-market rent.
The properties will be managed by JEA Senior Living, Senior Resource Group and Independence Village, GFH said.
Hisham Al Rayes, CEO of GFH said: “We are pleased to continue expanding our portfolio of strong income yielding investments in the US market with the addition of these well positioned and diversified senior healthcare assets.”
With the completion of this deal, total US real estate transactions executed by GFH over the last five years has reached $1 billion.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.