GFH ties up with Kuwait firm to acquire blue-chip US portfolio
GFH Financial Group has partnered with Wafra International Investment Company, a Kuwait-based firm with $8.5 billion in assets under management (AUM), to acquire a portfolio of US-based blue-chip logistics assets leased to FedEx and General Mills.
The portfolio comprises eight income-yielding mission critical logistics assets that are being built to suit requirements of tenants. Seven of the facilities are leased to FedEx Ground and the other to General Mills.
The assets are expected to be completed during 2022 as part of the built-to-suit process with leases to commence upon completion.
Located across the US in key distribution hubs, the assets are backed by tenant demand benefiting from strong tailwinds contributed by growing e-commerce penetration rates and sales, ongoing evolution of supply chain logistics and inadequate supply of high-quality prime warehousing facilities.
GFH currently has AUMs of close to $15bn, with growth recently driven primarily by its acquisition of a number of state-of-the-art, purpose-built logistics facilities occupied by market-leading tenants such as Amazon, FedEx and Michelin.
