Bahrain’s GFH acquires Fedex-leased warehouse in Ohio for $100m

Bahrain’s GFH acquires Fedex-leased warehouse in Ohio for $100m

Bahrain's GFH Financial Group acquired a US-based warehousing and distribution logistics centre in Ohio for $100 million, as it continues to expand its industrial real estate assets.

The Ohio warehousing unit, which is fully leased to logistics company FedEx is part of the Bahraini asset manager's focus on "acquisition of high quality logistics assets in key distribution hubs", it said in a statement on Saturday.

The company plans to capitalise on strong tailwinds from growing e-commerce penetration rates and sales in markets including the US, the world's biggest economy. The latest acquisition will add further value to the company's North American portfolio, it said.