GFH acquires $180 million healthcare portfolio in US

GFH Capital, a subsidiary of GFH Financial Group, yesterday announced acquiring a Diversified Senior Healthcare Portfolio in partnership with Madison Marquette in a deal exceeding US$ 180 million in value. The acquisition consists of six income yielding Senior Healthcare Properties located in the US states of California, Washington and Michigan.

The portfolio, which consists of properties that are currently 93 per cent occupied by residents, caters to senior citizens seeking Independent Living, Assisted Living and Memory Care. The properties will be managed by JEA Senior Living, Senior Resource Group and Independence Village, three best-in-class operators with strong management teams and investment track records in the US market.

GFH, along with its investors, acquired up to 91pc of the Portfolio with 6pc expected to be held by Madison Marquette, who will be a joint venture partner in the Portfolio. Senior Resource Group and JEA Senior Living have also co-invested alongside GFH and Madison Marquette in their respective portfolios.

Hisham Al Rayes, CEO of GFH said: “In line with our strategy, this portfolio generates strong, in-place, stabilised cash flows as well as healthy operating margins that will allow us to deliver value and attractive distributions to our investors.” With the completion of this deal, the total US Real Estate transactions volume executed by GFH over the last five years has reached US$ 1 billion.