Bahrain’s GFH acquires US hospitality portfolio in $250m deal – The National

Bahrain’s GFH acquires US hospitality portfolio in $250m deal – The National

Bahrain's GFH acquires US hospitality portfolio in $250m deal. GFH Financial Group, a Manama-based investment bank, acquired a hospitality portfolio in the US in partnership with investment firm Arbor Lodging Partners, as it continues to expand in the country.. The deal worth $250 million (Dh1.03 billion) was executed through GFH Capital, a fully-owned subsidiary of GFH Group, the company said in a statement to the Dubai Financial Market, where its shares trade.. The joint-venture transaction will see Arbor taking a 9 per cent stake in the portfolio of properties spread across California, Connecticut and New Jersey.. Arbor Lodging Management, an affiliate of US-based Arbor, will be managing the properties, GFH said.. GFH and Arbor will invest in improvement of these properties during the investment period, GFH said without specifying the amount of investment or the period.. GFH has over the past year increased its investment in the US.. In July last year, the company acquired a portfolio of office buildings for Dh367m in the US that pushed the value of its investments in the country and the UK real estate sector to more than $1bn.. The joint-venture deal gives Madison Marquette, a Washington-based real estate developer, a 6 per cent