Dubai-based GFH Capital Limited (GCL) said Sunday it has signed agreements to exit from its US Industrial Portfolio I and II acquired by it in 2016.
While not mentioning a value for the transaction, the investment banking arm of the DIFC-based GFH Financial Group, said the exit is expected to deliver approximately 40 percent return to investors over the holding period.
The portfolio, consisting of 26 industrial real estate assets, were located across the Midwest region of the US, the DFM-listed company said in a statement.
Commenting on the transaction, Nael Mustafa, Co-Chief Investment Officer at GFH, said this was the right time in the cycle to exit from the portfolio.
He said GCL was currently in discussions to acquire further assets in the space “which will allow our investors to build a strategically diversified portfolio within the growing industrial subsector not only in the US but in Europe and Asia as well in the near term.”
(Writing by Brinda Darasha; editing Daniel Luiz )
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021