GFH buys FedEx logistics facility in Ohio

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

GFH Financial Group (GFH) yesterday announced the acquisition of a US-based warehousing and distribution logistics facility situated in Ohio and fully leased to FedEx Inc. in a transaction valued at approximately US$100 million.

Commenting, Razi Al Merbati, Chief Executive Officer of GFH Capital KSA, said, “An increase in global trade and E-commerce, as well as development in supply chain management, has created an increased structural demand for warehousing space, and hence further growth.

As part of our investment strategy, we have been investing in this dynamic sector and building a solid and diversified portfolio. ” Nael Mustafa, Co-CIO Real Estate at GFH, added, “We look forward to announcing several other transactions in the sector this year across North America and Europe, supported by our conviction in the ongoing growth of the logistics sector globally and the opportunities that it presents for GFH and our shareholders and investors.”

GFH is a global real estate investor, investing across sectors with strong long-term fundamentals. It currently has more than US$12 billion of assets under management. GFH continues to scale up its global logistics platform with its recent acquisitions of the Amazon Spain Portfolio, the Michelin distribution facility in Chicago and the current FedEx distribution facility transaction.

This will gain exposure to well-positioned top credit tenants occupying a variety of mission-critical facilities in key locations in North America and Europe.