GFH acquires mission-critical distribution facility in Chicago for $135m

SectorFinancial Markets

UAE - Mubasher: GFH Financial Group has acquired a mission-critical distribution facility in Chicago in Illinois in exchange for $135 million, according to a press release on Tuesday. Since November 2015, the facility has been leased to Michelin North America, an international tire brand and tire industry innovator, handling 35% of the company’s imported inventory. The transaction is part of the expansion of GFH’s global portfolio of income-generating real estate assets, including distribution centres,  logistics assets, and delivery facilities in the US and Europe.  The acquisition was implemented in partnership with Silver Creek Commercial Development, a US-based asset manager. The facility is located close to the BNSF Logistics Park Chicago and the UP Joliet Intermodal Facility, which are transport centres managing around six million TEUs annually.

The CEO of GFH Capital, Razi Al Merbati, commented: "With this deal, we move further towards solidifying our position as a leading real estate investor in the US and look to transact on more...