GFH acquires two Chicago trophy properties in $150 million transaction
GFH Financial Group (GFH) today announced the successful acquisition of a new investment in the US comprising of two trophy 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 square feet 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.
"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,” said Hisham Alrayes, CEO of GFH.
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.