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GFH teams up with Wafra to acquire logistics assets in US

GFH teams up with Wafra to acquire logistics assets in US
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Mubasher: GFH Financial Group, listed on the Dubai Financial Market (DFM), Boursa Kuwait, and Bahrain Bourse, has partnered with Kuwait-Based Wafra International Investment Company to acquire a portfolio of US logistics assets leased to FedEx and General Mills.

The US assets portfolio includes “eight income-yielding mission critical logistics assets that are being built to suit the requirements of their tenants,” GFH noted in a bourse disclosure on Sunday.

Seven of the facilities are leased to FedEx Ground while the remaining one is to General Mills.

The assets are expected to be completed in 2020, GFH noted.

It is worth noting that Wafra has $8.5 billion worth of assets under management (AUM) while GFH currently has AUM portfolio of nearly $15 billion.