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Tue 12 Sep 2017 05:04 PM

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Bahrain's GFH sells Atlanta properties in $43m deal

Sale comprised 19 three-storey luxury residential buildings with 306 units in US city

Bahrain's GFH sells Atlanta properties in $43m deal
GFH Capital, the subsidiary of Bahrain-based GFH Financial Group, sold properties in Atlanta in a deal worth over $43 million. (Photo for illustrative purposes only)

GFH Capital, the subsidiary of Bahrain-based GFH Financial Group (GFH), on Tuesday announced that it has successfully completed the sale of some of its properties in the United States in a deal worth over $43 million.

The Atlanta based asset, a Class A property, is comprised of 19 three-storey luxury residential buildings with 306 units, the company said in a statement.

It added that the sale was completed through an open market bidding process with the portfolio attracting strong investor interest and demand.

Luay Ahmadi, senior executive officer of GFH Capital, said: “We are proud to announce this successful exit for the Group and for our investors. GFH have kept a close eye on the market since our acquisition in 2014 in order to ensure capitalising on the most opportune time to exit.

"Over the last three years, GFH has proven its ability to effectively source unique transactions and exit transactions, delivering promised returns to our investors. We saw strong prospects for the US real estate sector across multi asset classes and continue to have a robust pipeline.

"GFH remains focused on identifying similar new opportunities in the market and increase the size of the assets under management."

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