Built to inform

Sign up for the daily newsletters

No, Thank you

Bahrain's GFH acquires five US tech office buildings for $100m

Building cluster purchased by GFH Financial Group is located in Research Triangle Park in North Carolina, America

The Research Triangle Park, North Carolina, US.
The Research Triangle Park, North Carolina, US.

Kuwait Boursa- and Bahrain Bourse-listed financial investment firm GFH Financial Group has acquired a portfolio of five office buildings in Research Triangle Park in the US’s North Carolina for $100m (BHD37.6m).

In a stock market missive, undersigned by the group’s head of compliance, Nabeel Mirza, GFH referred to the portfolio of buildings as “income-yielding” assets, adding that it would, alongside its investors, own 95% of the portfolio.

The remaining 5% will be held by London- and Los Angeles-based Global Mutual and its affiliates. 

Arcadia Management Group, an affiliate of Global Mutual, has been appointed as the property manager for the buildings.

GFH said the investment was expected to generate return on investment (ROI) of 150% over an investment period of three to five years, and also positively impact its 2019 financials.

The office portfolio has been leased to 16 tenants at an overall occupancy rate of 96% and features a 7.3ha land parcel, which can accommodate up to 2.5ha of additional development.

Most popular


Construction industry conversations around digitisation must evolve
The Middle East construction industry’s approach to tech must evolve and focus on how can


CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 754
Nov 23, 2019