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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

GFH Financial, Wafra Buy Portfolio of Logistics Assets in US

GFH Financial Group has teamed up with Kuwait’s Wafra International Investment Co. to acquire a portfolio of logistics assets in the US.

Seven of the facilities are leased to FedEx Corp. and the other to General Mills Inc., GFH said in a statement, without providing a value for the transaction.

They are part of a built-to-suit process with leases to commence on completion of the facilities in 2022.

GFH said it currently has assets under management of close to $15 billion, with growth driven mainly by acquisition of logistics facilities occupied by tenants such as Amazon, FedEx and Michelin.

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