GFH in $150m deal to buy two US properties

20/12/2017 05:41 AST

GFH Financial Group (GFH) has announced the successful acquisition of a new investment in the US comprising two Chicago suburban office properties in a deal valued at approximately $150 million.

The investment has been undertaken in partnership with Crestlight Capital and Lincoln Property Company.

Lincoln Property Company is one of the largest property managers in the US having managed 356 million sq ft and is the second largest manager of real estate assets in the US with a total of $30 billion under management. In addition to acting as the asset and property managers, Lincoln Property Company and Crestlight Capital have also co-invested alongside GFH ensuring alignment of interests.

The properties are considered to be leading Class A trophy properties in the suburban Chicago market. They comprise two striking mid-rise office buildings with two parking decks on a 25-acre plot. The properties are built to meet the highest institutional standards, equipped with a full-service health club and swimming pool, conference facilities, dining outlets and a child day care centre, a statement said.

In addition to a high-visibility location and convenient access to all of the surrounding amenities, the buildings boast a distinguishable façade featuring granite accents and complimentary green-tinted glass.

The buildings’ superstructure consists of a steel framing system and light weight concrete over corrugated metal deck floors. Visitors to the buildings are greeted by a dramatic five-story atrium lobby constructed of steel and glass. Benefitting from this unique positioning in the market, the properties have a long-established institutional and credit rated tenant base, it said.

The investment provides GFH and its investors with exposure to the positive dynamics of the US real estate market and, in particular, the increasing suburbanization trend for office space, accommodating to demands for larger space, modern floor layouts and on-site amenities.

Hisham Alrayes, CEO of GFH, said: "We are delighted to announce another key investment in the US real estate market building on our growing portfolio and track record of success in this market. We are particularly pleased to be undertaking this investment with a world-class partner, which will ensure we maximise both returns and exit on this investment. The office market within the US real estate sector provides for further diversification and exposure for GFH and our investors and offers us the opportunity to leverage growth of the US economy. It is a continuation of our strategy to acquire and bring to our investors unique and strong income yielding opportunities.”

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