Bahrain-based investment bank GFH Financial Group has announced plans to acquire a portfolio of logistics assets leased to FedEx and General Mills in the United States. 

The acquisition will be in partnership with Wafra International Investment Company, a Kuwait-based asset management firm with $8.5 billion in assets under management (AUM), the company said in a statement to the Dubai Financial Market (DFM). 

“The investment is expected to reflect positively on the group’s financials and increase the returns for the group,” the bourse filing, posted on Sunday, said. 

The portfolio is comprised of eight income-yielding assets located in strategic locations across key distribution hubs in the US. Seven of the facilities are leased to FedEx Ground and the other to General Mills. 

GFH did not disclose the value of the assets it plans to acquire. The company currently has AUM of nearly $15 billion. 

Last November, GFH announced several acquisitions, including a portfolio of medical offices in the US worth around $200 million, a 60 percent stake in Multi-Specialty Healthcare Partner Holding for more than $100 million and a $2 billion portfolio of logistics facilities leased to Amazon. 

The company posted a net profit attributable to shareholders of $23.3 million for the third quarter of 2021, up by 187.3 percent from the previous year. 

(Reporting by Cleofe Maceda; editing by Mily Chakrabarty) 

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