Mubasher: GFH Financial Group has acquired a US-based warehousing and distribution logistics facility, fully leased to FedEx, in exchange for around $100 million.

This acquisition is part of GFH’s objective which focuses on acquiring high-quality logistics assets across main distribution hubs to benefit from growing e-commerce demand, according to a press release on Sunday.

GFH continues to expand its global logistics platform with its recent acquisitions of the Amazon Spain Portfolio, the Michelin distribution facility in Chicago, and the current FedEx distribution facility, located in Ohio.

The group has raised its logistics investments in North American and Europe to over $300 million.

The CEO of GFH Capital KSA, Razi Al Merbati, said: "An increase in global trade and E-commerce, as well as development in supply chain management, has created an increased structural demand for warehousing space, and hence further growth."

Meanwhile, the Co-CIO Real Estate at GFH, Nael Mustafa, remarked: "We look forward to announcing several other transactions in the sector this year across North America and Europe, supported by our conviction in the ongoing growth of the logistics sector globally and the opportunities that it presents for GFH and our shareholders and investors."