GFH to buy US Virginia Data Centre

Dubai : GFH Capital, a subsidiary of Bahrain based GFH Financial Group, yesterday announced the signing for a new investment in a US Virginia-based Data Centre with market value exceeding US$100 million.

 The investment is being undertaken in partnership with Corporate Office Properties Trust (COPT), a US$5 billion NYSE-listed REIT and one of the leading data centre operators in the US. COPT, in addition to managing the assets, have also made a 20 per cent investment in the portfolio, which is expected to provide investors with attractive semi-annual cash distributions at an annual rate averaging 9.5pc over the investment period and an IRR of 12pc.

The portfolio consists of two state-of-the-art, built-to-suit data centre facilities located in high technology business parks in the US state of Virginia. The investment provides GFH and its investors exposure to the US real estate market and, in particular, increasing demand for data centres led by growth in cloud services and data storage needs with Virginia serving as top data centre destination.

Commenting, Luay Ahmadi, Senior Executive Officer of GFH Capital, said, “The data centre industry within the US real estate sector provides for further diversification and exposure for GFH and our investors and offers us the opportunity to leverage growth in this dynamic and fast growing technology driven segment.”