GFH acquires $100 million Tech Offices Portfolio in the U.S.
DUBAI: GFH Financial Group has, through its fully owned subsidiary GFH Capital Limited, acquired a Tech Offices Portfolio in the US in a deal valued over US$ 100 million.
The portfolio consists of five income yielding buildings located in Research Tringle Park, which is the largest scientific research park in the US. GFH will hold 4.75%, GFH’s investors will hold up to 90.25% of the portfolio with the remaining 5% to be held by Global Mutual and its affiliates. Global Mutual currently operates over £1.5 billion in assets under management.
Arcadia Management Group (Arcadia), an affiliate of Global Mutual, with current property management portfolio of 260 assets across 11 US states, will act as the property manager for this portfolio.
The investment is expected to make an ROI of 150% over the investment period of 3 to 5 years and will accordingly have a positive impact on GFH’s 2019 financials.
It is to be noted that with the completion of this deal, total US and UK Real Estate transactions volume executed by GFH over the last few years has crossed US$ 1 billion mark.