Dubai – Mubasher: GFH Financial Group on Monday announced its acquisition of two “trophy Chicago suburban office properties” for $150 million.

The investment was carried out in partnership with Crestlight Capital and US property manager Lincoln Property Company (LPC), both of which have co-invested with GFH in the deal, GFH said in a statement.

"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,” commented GFH CEO Hisham Alrayes.

The US’ real estate sector in general and the office market in particular offer “further diversification and exposure for GFH and our investors and offers us the opportunity to leverage growth of the US economy,” Alrayes added.

The newly-acquired Class A mid-rise office buildings include two parking decks on a 25-acre plot, along with a full-service health club and swimming pool, conference facilities, dining outlets, and a children's daycare centre.

“It is a continuation of our strategy to acquire and bring to our investors unique and strong income yielding opportunities,” GFH’s CEO concluded.

LPC is one of the largest property managers in the US with around 356 million square and around $30 billion in assets under management, making it the second largest real estate asset manager in the US.