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FINANCIAL NEWS
Saudi’s GFH to acquire USD 65mn in U.S industrial real estate
13 Jun 2016
(MENAFN) GFH Financial Group has signed a deal in order to acquire a portfolio of industrial real estate located in the United States for a value of USD 65mn.
Moreover, the portfolio covers several distribution, warehousing and industrial properties spread over various states in the Midwest region of the United States.
Additionally, the portfolio will provide a regular cash flow stream resulting from long leases and strong tenant base in the properties.
The firm posted net profit attributable to shareholders of USD 6.1mn for Q1 of this year, representing a 176 percent increase from the USD 2.2mn of 2015.
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