DUBAI: GFH Capital has agreed to exit a major portfolio of industrial real estate spread across the US midwest.
The portfolio consists of 26 assets covering more than 2.7 million square feet, the GFH Financial Group unit said in a filing to the Dubai Financial Market on Sunday.
The properties are split between single and multi-tenant facilities serving as distribution, warehousing and other industrial real estate sites.
“The performance of the portfolio has dovetailed with the boom of e-commerce and increased pressure on the supply chain, which has led to further demand for Industrial space. Shipping volumes have surged over the past year as retailers and manufacturers rush to replenish depleted inventories during the pandemic, creating demand for additional industrial space,” GFH said in the statement.
GFH did not disclose the value of the deal but said that it expected the exit to deliver returns of about 40 percent to investors.