Bahrain investment firm GFH Financial Group is set to launch its operations in the US real estate market with the acquisition of SQ Asset Management, which focuses on student housing.
In a statement to the Dubai Financial Market (DFM) on Tuesday, GFH said it has already signed an agreement for the transaction, which will see the company launch its operations in the US and add 180 real estate professionals to its payroll.
SQ has 32 housing properties and 10,300 beds currently under management across the US. Its primary investment strategy is to acquire and manage high-quality purpose-built student housing assets at large public American universities.
Under the deal, SQ will be owned by GFH alongside with the founders, a large global alternative investment firm managing approximately $51 billion in assets, and TriPost Capital Partners, a private equity firm based in the US.
(Writing by Cleofe Maceda; editing by Seban Scaria)