RIYADH: Bahraini GFH Financial Group’s UK unit, Roebuck Asset Management, has set up a joint venture to acquire logistics assets in Spain for EUR400 million ($410 million).
The 18-month deal was signed with ICG Real Estate for urban logistics, targeting income-generating assets that seek to build funding opportunities, according to a statement.
“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 EUR300 million of Spanish logistics and increased investor demand for access to Spain,” said Hugh Macdonald-Brown, managing partner at Roebuck.
The move comes in line with the Bahrain-based investment firm’s expansion strategy in a bid to strengthen its footprint in Europe.