Bahrain’s GFH acquires major Chicago distribution centre

GFH, the Bahrain-based financial group, says it has acquired a “state-of-the-art” distribution facility in the US city of Chicago, Illinois.

It says the transaction, valued at more than $135 million, marks the continued expansion of GFH’s portfolio in the US and Europe.

“With this transaction, we continue to further our efforts to diversify and expand our portfolio of international, blue-chip real estate assets. This includes new acquisitions of prime properties in strategic geographies for us, including the US,” said Razi Al Merbati, CEO of GFH Capital.

The facility has been leased since November 2015 to blue chip tenant Michelin North America, the global tire company.

Salem Patel, Head of Asset Management, at GFH, said: “This investment is supported by its long-term lease to Michelin NA, a highly reputable tenant and global tire industry giant, which has helped establish and maintain the facility as a state-of-the-art distribution centre.”