Bahrain based GFH buys stake in US real estate asset management firm

Bahrain-based GFH Financial Group said it has acquired a majority stake in Big Sky Asset Management, a US-based real estate asset manager focused on the attractive and defensive healthcare segment. A leading regional financial group with interests in key sectors such as the real estate and asset management, GFH said this transaction further expands its presence in the US and builds on its thematic focus on attractive and defensive markets. It follows the earlier acquisition in May last year of US-based SQ Asset Management, a leading specialist in student housing in prime US states and cities. With the acquisitions of Big Sky, GFH has established a strong foothold in the growing, defensive healthcare market, making the Group one of the early pioneers in the region to penetrate this segment, it stated. Big Sky brings more than 20 years of experience in investing and managing healthcare assets in the US, with more than $2 billion in cumulative transaction value and 130 in medical facilities. "We are looking forward to this partnership with an established and well positioned expert such as Big Sky, and believe it gives GFH a unique approach to the market by bringing together our regional expertise with Big Sky’s extensive know-how in the US healthcare market," remarked Nael Mustafa, Co-Chief Investment Officer at GFH. "This partnership will further strengthen our real estate offering and allow us to introduce unique and attractive products to our investors," he said. According to him, Big Sky has strong capabilities in sourcing, acquiring and managing healthcare assets with a specialized focus on medical clinics and life sciences real estate. The company seeks premier medical facilities where it can directly add value through active and enhanced asset management. "This acquisition is instrumental to the future growth of GFH by giving us strong management teams that are able to execute our growth strategy and give us a local presence, which in today’s market is a key ingredient to success," stated Mustafa. "Big Sky’s strong track record further complements our strong performance in the US markets and boosts our market know how," he added. Big Sky is being led by the Founder and CEO, Jason L. Signor, who brings an extensive track record of investing in the healthcare real estate sector, and is supported by a strong management team across the US. Signor has successfully grown a predecessor real estate company to become of the largest healthcare real estate platforms in the US. Following the transaction, the company will be owned by GFH alongside the founders. "Having GFH as a strong partner will enable Big Sky to further offer unique investment opportunities to investors in the US and the GCC. Big Sky is well positioned to grow its AUM and become one of the largest healthcare real estate investors by combining our market capabilities with GFH’s strong global access," remarked Signor. Mustafa said GFH was keen to collaborate with Jason and his team to grow the platform and find unique ways of generating value across the spectrum of healthcare. "The platform will be instrumental in providing institutional quality real estate to the top hospital groups and doctors in the US. We believe the healthcare real estate sector through Big Sky will present attractive returns for our investors," he noted. "GFH has completed acquisitions of two medical clinics portfolios through a joint venture with Big Sky that is valued in excess of $800 million as part of our investment strategy of acquiring portfolios of stabilized assets supported by strong market fundamentals and operating growth," stated Mustafa. "We are strong believers in the healthcare market which is positioned for steady, resilient growth following the shift in outpatient services and subsequent demand for quality medical clinics assets," he added. Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Bahrain based GFH buys stake in US real estate asset management firm

DISCOVER MORE

Borouge supplies materials worth $32.69mln for mega projects in Middle East and Africa

Saudi’s fintech sector starts to rival UAE, Egypt as number of firms nearly doubles

China's Xi speaks with Saudi crown prince, supports Saudi-Iran talks

UAE: Gold prices edge up $0.27 per gram in Dubai

Iraqi parliament approves unpopular election law amendments

UAE weather: Chance of rain, temperatures to hit 35°C

Dubai: Have you seen Jumeirah's Spine Mosque?

Hill lands PMC contract for 50,000-unit Saudi residential project

Egypt's central bank likely to hike interest rates by 3% - HSBC

UAE exchange firm Al Ansari raises $210mln in IPO

Saudi National Bank's chairman resigns; Al Ghamdi takes over

UAE's Aldar to build new flats, penthouses dedicated to holistic health, wellbeing

Saudi Al Rajhi Bank to issue dollar-denominated sustainable sukuk

First Citizens agrees to acquire failed Silicon Valley Bank

U.S. rejects JetBlue, Spirit exemption request, citing lawsuit

SNB offers $100bln to help UBS Group take over Credit Suisse

U.S. regulator eyes Friday bids for SVB, Signature Bank: sources

HSBC acquires Silicon Valley Bank’s UK unit in rescue deal

LATEST VIDEO

VIDEO: LSE-listing will facilitate more funding opportunities for us, Dar Global CEO

ZAWYA COVERAGE

Saudi’s fintech sector starts to rival UAE, Egypt as number of firms nearly doubles

BP and UAE's ADNOC bid for stake in NewMed Energy

UAE banking sector to remain stable in 2023 – KPMG

Near-term oil prices volatile; outlook still positive – UBS

Mideast Stocks: Gulf stocks rise as sentiment improves amid easing banking fears

Borouge supplies materials worth $32.69mln for mega projects in Middle East and Africa

Dubai Airports recognised as one of Best Employer Brands in LinkedIn MENA Talent Awards

Investment needs of $35trln by 2030 for successful energy transition: report

Indian rupee gains against UAE dirham as dollar weakens

THE BRI REPORT

China is reshaping the Belt and Road Initiative ahead of a post-pandemic era

DISCOVER MORE

LATEST VIDEO

ZAWYA NEWSLETTERS

ZAWYA COVERAGE