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GFH closes USD 300 mn logistics fund: GFH Financial Group’s Dubai-based real estate asset management arm has closed a USD 300 mn logistics and industrial fund in the United States, according to a statement (pdf). The fund — the firm’s seventh of its kind — includes industrial and transportation logistics assets, with a portfolio of 25 properties and sites across seven locations.
The details: The fund includes Class A properties leased long-term to major tenants including Tesla, Teleflex, Tower Health, and UGI Energy Services, the statement notes. The fund’s transportation logistics assets include nearly 20 small to medium sites allocated for truck parking and servicing, sorting and fulfillment of goods, EV battery charging, loading and unloading site, and transportation worker facilities. These sites have a full occupancy rate and comprise 600 sq ft of rentable space leased by companies including AT&T and Penske.
The firm has entered into a strategic partnership with investment manager Transport Properties to manage the transportation logistics asset class. Transport Properties specializes in developing properties for trucks, buses, construction, and material storage, to help manage its newly acquired assets, the statement said.
Delivering on a need: Limited availability, stringent zoning requirements, and a dropping supply due to a rise in demand from mass transport operators are driving interest in US transportation logistics assets, the statement notes. The fund looks to leverage the location of the assets it has acquired, which are spread along the Midwest logistics channel that connects Chicago to Texas and the southern US border.
GFH has been active in KSA + UAE…: GFH Partners acquired a USD 150 mn portfolio of logistics and industrial zone real estate assets in Saudi Arabia and the UAE last October. The portfolio included light industrial and cold storage facilities as well as distribution and warehousing assets that are leased to regional and international tenants across logistics zones and industrial areas in Riyadh and Dubai.
… and beyond: The firm has acquired more than 50 logistics assets across six countries in three continents. These transactions have poured some USD 4 bn into the logistics real estate sector by leasing units to Amazon, FedEx, and DHL.
