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GFH exits US tech offices portfolio

GFH exits US tech offices portfolio
The portfolio comprises a Class A Life Science office asset
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Mubasher: GFH Financial Group has exited from its US tech offices portfolio, which was acquired in 2019.

The portfolio comprises a Class A Life Science office asset in Research Triangle Park in North Carolina, the largest scientific research and development park in the US, according to a press release on Monday.

The asset, the largest employment centre in the Triangle, contains five buildings with a total area of 430,000 square feet and developable land of 270,000 square feet.

The proceeds from the exit are forecast to record an approximate return of more than 50% over the holding period.

The Executive Director – Real Estate Investments at GFH, Awais Majeed, said: "This is another important milestone underscoring our continued ability to capitalise on suitable market conditions to both deploy and return investor funds successfully."

Majeed commented: "GFH remains committed to building our diverse portfolio of robust real estate assets in the US market, where we see ongoing growth and opportunities in a number of segments that provide attractive opportunities with stabilised yields and upside potential."