UAE- Mubasher: GFH Financial Group has gained a mission-critical distribution opportunity in Chicago in Illinois in return for $135 million, as per the press release on Tuesday.
Since November 2015, the facility has been rented to Michelin North America, an international tire brand and tire industry innovator, holding 35% of the company’s imported inventory.
The deal is a part of the expansion of GFH’s global portfolio of gain-generating real estate advantages, containing distribution centers, logistics benefits, and delivery facilities in the US and Europe.
The purchase was applied in partnership with Silver Creek Commercial Development, a US-based benefit manager.
The facility is situated near to the BNSF Logistics Park Chicago and the UP Joliet Intermodal Facility, which are commutation centres handling about six million TEUs yearly.
The CEO of GFH Capital, Razi Al Merbati, commented: “With this deal, we move further towards solidifying our position as a leading real estate investor in the US and look to transact on the strong pipeline of other unique opportunities we have in place.”
Meanwhile, the Head of Asset Management at GFH, Salem Patel, remarked: “The Chicago-based facility is uniquely positioned in the centre of the country and boasts seamless access to a variety of transport links giving tenants easy access to their customers located across major US states and commercial centres.”
GFH is ranked on Bahrain Bourse (BHB), Boursa Kuwait, and the Dubai Financial Market (DFM).