Mubasher: Roebuck Asset Management, a UK-based subsidiary of GFH Financial Group, has signed a joint venture (JV) agreement with ICG Real Estate for urban logistics, which is the last mile portfolio across Spain.

The EUR 400 million deal comes in line with GFH’s expansion strategy to scale up its footprint and grow its portfolio in Europe, according to a press release on Sunday.

The 18-month agreement targets the long-income assets that seek to build funding opportunities that suit the thematic investment criteria.

Managing Partner of Roebuck, Hugh Macdonald- Brown, noted: “The JV builds on Roebuck’s well established track record as a pan European asset manager and its presence in the Spanish market, having established Roebuck Iberia in 2020 following the transaction of EUR 300 million of Spanish logistics and increased investor demand for access to Spain.”

In the first quarter (Q1) of 2022, GFH registered net profits attributable to the shareholders worth $19.11 million, up 18.50% from $16.12 million in Q1-21.