gfh acquires two trophy chicago properties for us 150 million
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

GFH acquires two trophy Chicago properties for US $150 million

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleGFH acquires two trophy Chicago properties for US $150 million

GFH
Manama - Muslimchronicle

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 US$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 US$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.

The properties are considered to be leading, Class A, trophy properties in the suburban Chicago market. They comprise of two striking mid-rise office buildings with two parking decks on a 25-acre plot.

The properties are built to meet the highest institutional standards, equipped with a full-service health club and swimming pool, conference facilities, dining outlets and a child day care center.

In addition to a high-visibility location and convenient access to all of the surrounding amenities, the buildings boast a distinguishable façade featuring granite accents and complimentary green-tinted glass. The buildings’ superstructure consists of a steel framing system and light weight concrete over corrugated metal deck floors.

Visitors to the buildings are greeted by a dramatic five-story atrium lobby constructed of steel and glass. Benefitting from this unique positioning in the market, the properties have a long-established institutional and credit rated tenant base.

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. 

Commenting, Mr. Hisham Alrayes, CEO of GFH, said, "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 maximize 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.”

 

 

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gfh acquires two trophy chicago properties for us 150 million gfh acquires two trophy chicago properties for us 150 million

 



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