Bahrain's GFH buys warehousing, logistics facility in US for $100mln

The facility, located in Ohio, is fully leased to FedEx

  
Image used for illustrative purpose. Buildings are under construction to accommodate the influx of business as the banking industry continues to grow November 25,2002 in Manama, Bahrain.

Image used for illustrative purpose. Buildings are under construction to accommodate the influx of business as the banking industry continues to grow November 25,2002 in Manama, Bahrain.

Getty Images/Joe Raedle

Bahrain-based investment company GFH Financial Group (GFH) has acquired a US-based warehousing and distribution logistics facility for $100 million.

This takes the group's logistics investments in the North America and Europe to over $300 million, the Bahrain stock market-listed GFH said in a statement.

The facility, located in Ohio, is fully leased to FedEx, the courier and delivery service provider.

This adds to GFH's global logistics platform, following its recent acquisitions of the Amazon Spain Portfolio, the Michelin distribution facility in Chicago. The company, which has interests in commercial banking, real estate development and treasury and proprietary investments, has $12 billion of assets under management.

GFH Capital Saudi Arabia CEO Razi Al Merbati said: "The logistics and distribution real estate sector has proven to be one of the most dynamic sectors of commercial real estate. 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."

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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