GFH buys $2 billion portfolio of Amazon designated logistics warehouses in US

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

GFH Financial Group yesterday announced its successful investment in a portfolio of high quality, income yielding logistics assets leased to Amazon.

In a transaction currently valued at more than US$2 billion, the portfolio, comprised of 14 mission-critical logistics assets strategically located in 11 states, is fully leased on a long-term basis to the global e-commerce giant.

Totalling more than 11 million sq. ft. of prime space, the investment sees GFH expand its portfolio of logistics assets in the US.

The assets in the new portfolio have been designed and built to suit Amazon’s requirements and are strategically located near major ports and critical infrastructure, minimizing inbound ground transportation expenses and providing for significant national reach to a majority of the US market.

The investment by GFH was made in partnership with Preylock Holdings, alongside a club of highly reputable multi-national institutional investment firms.

 Preylock CEO, Brett Lipman, commented, “The strength of this asset class is unparalleled in US real estate and the Preylock portfolio is well-positioned to deliver on that value.”

Nael Mustafa, Co-Chief Investment Officer – Real Estate at GFH, added, “The 14 assets are strategically located, purpose-built and state-of-the-art, enabling Amazon to effectively streamline the flow and delivery of goods to its massive and ever-expanding customer base across the US.”

Over the past 12-months, GFH has built a portfolio currently valued at more than US$1 billion in the US and European logistics sectors, including the purchase of facilities purpose-built for and occupied by market-leading tenants such as Amazon in Spain and FedEx and Michelin in the US.